Solana (soil), the fifth largest cryptocurrency in the world by market capitalization, has failed to hold hard and is now underway for a drop in prices. The current feeling of the market seems to be lower, the main assets undergoing a notable decline. Sol also broke below its level of crucial support of $ 180.
Solana (soil) Action of prices and future levels
According to an expert technical analysis, Sol has obtained support from this crucial level since November 2024 and has tested it several times.
However, this time, as the asset cannot maintain, it loses this key and firm level a daily candle below $ 180, partially confirming a lower decision. Based on the action of recent prices and historical models, there is a high possibility that soil can attend a price drop of 15%, reaching the level of $ 155 in the coming days.
$ 115 million for a floor exit
Following this notable ventilation, long -term investors and holders accumulated soil tokens, as reported by the Coinglass chain analysis company. SPOT Flow data and outputs reveal that exchanges have experienced a significant exit of $ 115 million in the assets, indicating potential accumulation.
In this downward market trend, such outing can create purchase pressure and potentially lead to a price rebound.
However, intrajournalier traders seem to follow the long -term holders, as they seem to bet on the long side.
$ 45 million for a long bet
The data show that the traders occupying long positions strongly dominate the assets and are over-led to $ 174.3, with $ 45 million in long positions. With such important open positions, this level acts as crucial support.
Conversely, $ 180 is another key level where merchants occupying short positions are over-exposed, with $ 15.50 million in short positions. This suggests that the sellers uncovered are exhausted, which could help the Bulls recover the level of support lost.
Current price momen
Sol is currently negotiating nearly $ 177 and has dropped for 6% in the last 24 hours. During the same period, its negotiation volume jumped 110%, indicating increased participation of merchants and investors in the middle of the drop in prices.
