Can 40 % Solana drop?

After crossing its highest historical level, Solan faces pressure that threatens its course. Discover Elyfe’s analysis and decrypt technical views of the soil.

Situation of Solana (land)

After exceeding the resistance of $ 210, Solana continued her increase towards her last ATH identified at $ 267. After reaching this level, the ground price was reduced, increasing to $ 170, showing more than 36 %correction.

Fortunately, this price level supported by 200 days with a mobile diameter and the first beer support triggered the interest of the buyer who was maintained. This then made it possible to cross your previous summit and record the new higher historical for $ 295.

Unfortunately, the country’s increase was not supported, partly due to the overall decline in the market crypto. He recently found his support around $ 170.

At the time of the editorial staff, the Solana lesson is negotiated around $ 196. It develops above a significant value area and also its 200 -day mobile average.

Solana, however, is now under the annual VWAP, which coincides with the lunar swivel point to $ 232. Although the short -term trend remains down, medium and long -term dynamics remain up.

This upward structure is confirmed by the location of mobile diameters 50 and 200 daysthat remain crossed and awake, signaling the maintenance of the material trend despite the current consolidation.

On the side of the upward dynamics of Earth, it is not surprising that it was revised down, which is reflected both in the price and its oscillators.

The current technical analysis was carried out in cooperation with ElyfeInvestor and popularizer in the cryptocurrency market.

Zoom on the derivatives of Solan (Solusdt)

Although the open interest in permanent land/USDT contracts seems to be stabilized, it was revised down depending on the trend of its basic course. This shows declining interest, as the price of solana decreases.

On the CVD side, it is also below, indicating the predominance of market sales orders, thus contributing to increased sales pressure.

The level of funding has undergone a negative territory, reflecting the reduction of beliefs.

Finally, from the peak of the disposal of long positions of 3 February, liquidation remained on both sides of the market limited after the last correction of bitcoins without significant movement for buyers or sellers. This situation shows a stable market, controlled volatility and caution of risk management, reflecting a certain balance.

The thermal card by disposing of SOL/USDT contracts shows that the disposal zone located below $ 300 has aroused sales orders due to a decrease in the course. Although this area remains visible, the most important liquidation zone is under the current Solana course, around $ 160.

Price access to these levels could lead to a massive order trigger, increasing the risk of increased volatility crypto. These areas therefore represent a key point in interest for investors.

Forecast for solany courses (soil)

• If the Solana course is maintained over $ 170, you can predict a return to $ 220-240. Another resistance to the monitor, if the Haussier movement continues, is around $ 270 or even a return to the last ATH for $ 295. At this stage, this would be an increase of more than 50 %.

• Conversely, if the Solana course is unable to stay above $ 170, a decline in around $ 155 is possible. Further support, which will consider, in the case of a continuation of lower movement, could be between $ 140 and $ 130, or even around the medium and long -term levels of support of almost $ 110. This would then be a decrease of approximately 43 %.

Conclusion

Solana shows remarkable resistance despite the correction phase supported by key levels that preferred reflection. Although the short -term trend remains uncertain, the background dynamics remain positive, indicating the potential of medium and long -term recovery. In this context, it will be necessary to carefully monitor the strategic price response to confirm or modify the current forecasts. Finally, remember that these analyzes are only based on technical criteria and that cryptocurrencies can develop rapidly according to other basic factors.

Are you interested in this study? Find our latest Ethereum analysis.

Elyfe

Elyfe specialist in technical analysis decrypts graphic trends on the markets of cryptocurrencies with strict and constantly evolving approach. Through its detailed analyzes, it brings an enlightened view of prices dynamics, helps investors and enthusiasts better understand and predict market movements.

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