Solana (left), it has difficulty staying above the $ 200 level, while technical indicators show that the decline tendency is strengthened. The latest price movements reveal that the SOL has faced resistance at $ 200 and is currently traded at $ 190. The market value is around 94 billion dollars.
Technical analysis shows that sellers dominate the market and that the efforts of the buyers to withdraw the price are weak. As the critical support levels approach, it remains unclear whether the SOL can gather power or continue to fall.
Technical graphics support the decline trend
The Ichimoku cloud analysis shows that the price movement is below the cloud and the decrease momentum continues. While the Red Cloud reveals that sellers are dominant in the market, the price of the price towards the cloud has been rejected.
In addition, according to the DMI indicator (helps to determine the direction of the trend), the ADX value has increased from 12.7 to 20.8. This shows that trend power has increased and the price has begun to set a clearer direction.
The positive direction indicator (+DI) dropped from 17.9 to 11.6, while the negative movement indicator (-DI) rose from 20.4 to 25.3. He points out that the sales pressure has increased and the control of bears is handled. If the ADX value exceeds 25, it is foreseen that the decline trend will be strengthened and it will be difficult for buyers to withdraw the price.
Solana (left) price estimation: $ 200 or $ 175?
The solana price has not been able to exceed the $ 200 level, and short -term moving averages also support the decrease tendency. Currently, the critical support point is $ 187. If this level is broken, the price is thought to decline to $ 175.
However, if the price holds at the level of $ 187, the price is likely to find a balance here and make a upward recovery. In this scenario, SOL is expected to test the $ 200 level again.
