Solana Price Decline Continues, SOL Bulls Now Look to This Zone for Support

The price of Solana (SOL) has been declining over the past three weeks after a strong bullish run from September through December of last year. It is currently trading around $91. Many Solana bulls had anticipated the run to continue, but recent technical analysis suggests there is no sign of reversal on the horizon yet.

According to the chart analysis tweeted by @ChartMonkeyBTC from trader @protrader_365, Solana is heading towards a support line in what appears to be a corrective wave in the 4-hour timeframe. The analysis expects Solana to drop to the support zone between around $82-$75 after breaking below the current support line around $91.

New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW

Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!


Show more +

This would represent an additional 5-10% drop from the current price. The analysis sees greater likelihood of a move down towards the next key support level rather than a bounce from the current area.

Bulls are hoping the support around $82 and prior price consolidation area between $75-$80 will attract enough buyers to halt the multi-week slide. However, continued selling pressure could invalidate the $82 support and open the door to a fall below $75. Bulls are anxiously watching to see whether $82-$75 holds firm or if a deeper correction develops.

You may also be interested in:

Check $RECQ Meme Coin

Sponsored: Invest Responsibly, Do Your Own Research.
Serves as the base currency for all transactions within the Rebel Satoshi platform
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.


Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency