Solana (Left) worried investors by losing 38 %in the last 30 days. The left, which is below $ 120, is currently testing critical support levels. So, will the price continue to fall, or will the recovery begin?
What do the technical indicators say for Solana?
The Ichimoku cloud shows that Solana is in a powerful downward trend. The price remained below the levels of both Tenkan-Sen and Kijun-Sen (basic line). This shows that sales pressure continues.
If the left short-term recovery experiences, it may face strong resistance in the $ 130-135 zone. However, if these levels cannot be exceeded, the price may enter a decrease trend again. Looking at the current technical structure, it seems likely to be limited.
Sales pressure is getting stronger: bulls are forced
Solana’s directional motion index (DMI) shows that sales pressure is still strong. The ADX value reaches 33.96 and reveals that the trend is strengthened. The negatively index (-DI) is much higher than the positive index (+DI).
This shows that sellers maintain their dominance in the market. Although small -scale purchases, these purchases are not enough to increase the price. If buyers do not gain strength, the left price may deepen.
Does the solana fall below $ 110?
The most critical support levels for solana in the short term are seen as $ 115 and $ 112. If these levels cannot be maintained, the price may hang below $ 110. This can be one of the lowest levels of the year for the left.
However, if the recovery occurs, the level of $ 130-135 will be the first target. If the left can exceed these resistances, the price may rise up to $ 152. However, for now, the general trend in the market is a decrease. Investors should closely follow their support levels.
Critical Days for Solana! What should investors do?
As Kriptokoin.com, solana investors should be careful in the coming days. If sales pressure continues, the price may go below $ 110 and larger losses may occur. However, if the buyers are activated, the left can move back to $ 130 in the short term. Investors need to closely follow the support and resistance levels.
