AsterCrypto
  • Crypto News
  • Bitcoin News
  • Altcoins News
  • Ethereum
  • BlockChain
  • Bitcoin Investment
  • DeFi
  • Web3
  • Web3 Gaming
Reading: Solana Price Faces Decline, Key Support at $120
Share
AsterCryptoAsterCrypto
Font ResizerAa
Search
Have an existing account? Sign In
Follow US
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
Altcoins News

Solana Price Faces Decline, Key Support at $120

Ali Raza
Last updated: March 12, 2025 6:40 am
Ali Raza Published March 11, 2025
Solana price support

Despite recent analyst predictions, Solana’s (SOL) price has approached yearly low levels. This suggests prices may recover minimally in the upcoming days. However, despite the bearish outlook, analyst Ali pointed out that Solana could face a potential recovery from the current prices. According to recent analysis, the $125 support level requires close monitoring since it will determine Solana’s trading path.

Contents
Solana Price StrugglingSOL Facing Sell-offs?Disclaimer

The $125 price mark has established itself as Solana’s key support zone. This can be viewed as a numerical or psychological threshold that shapes forthcoming market feelings and movement. Since it improves market confidence, the cryptocurrency market shows increasing bullish signals when traders maintain trading positions above this level.

Solana Price Struggling

The SOL price movement in recent times reveals significant downward market trends through its pattern on price charts. Solana’s price peaked in December before it dropped substantially while forming multiple descending trend patterns that usually indicate bearish market conditions.

Throughout this selling period, investors maintained their sales activities because the candlestick pattern shows extended red movement, which denotes intense selling pressure. The price has now breached below its long-term support levels as seen in 1-day charts, sparking fears of further declines.

The Relative Strength Index (RSI) indicates asset overselling as its value remains under the 40-point mark. The current state of market momentum demonstrates minimal potential for substantial upward price adjustments during the short term. Its current position reflects the bearish market sentiment while strengthening the prevailing negative price trend.

A support area exists at $120. Historical evidence shows buyers actively participate at this level. The critical area at $120 defines whether the Solana price will recover and change direction or if downward momentum will push prices toward $100. The price must demonstrate a solid overcoming of this support area before any bearish momentum would force a decline, potentially reaching the $100 level.

SOL Facing Sell-offs?

According to CoinMarketCap data, the trading volume, as seen in the second image, has spiked recently, often a signal of increased interest and activity. High volume accompanying a downward price movement can sometimes indicate a capitulation phase where sellers want to exit their positions.

Buyers buying in at lower prices could lead to a temporary bottom. The volume spike could be pivotal if Solana’s price reaches the support zone, providing a litmus test for the asset’s short-term trajectory. SOL’s current technical setup paints a bearish picture in the near term, with vigorous selling activity and key technical indicators supporting this view.

The subsequent few trading sessions will be crucial, particularly regarding how the price interacts with the critical support at the $120 level. A rebound from this point could signal a temporary respite or reversal, whereas a break below could exacerbate the downward trend.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of monetary loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

You Might Also Like

XRP Price Prediction Will XRP Fall Below $2 Due to Market Trends

Ethereum’s Rise and Future: 120% Surge, Ethereum 2.0 & DeFi

Ethereum Price Predictions Amid Geopolitical Tensions

MAGACOIN FINANCE The Political Meme Coin to Watch in 2025

XRP and Bitcoin Price Surge Will XRP Hit 2018 High

TAGGED:Solana Price StrugglingSolana price support
Share This Article
Facebook Twitter Flipboard Pinterest LinkedIn Tumblr Reddit Email Copy Link Print
By Ali Raza
Follow:
Ali Raza is an experienced freelance content writer. His focus is primarily on aster-crypto and btccoinzone. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Ali Raza is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Ali Raza enjoys traveling, reading, and playing cricket when not writing. He now works as a news and article writer for Astercrypto.
Previous Article Metaplanet Bitcoin purchase Metaplanet Stock Rises 8% on Fresh Bitcoin Purchase
Next Article Ether Price Volatility Drives $152M Outflows from US Spot ETFs Ether Price Volatility Drives $152M Outflows from US Spot ETFs
- Advertisement -

Popular News

Ripple vs. SEC: Legal Battle
Ripple vs. SEC: Legal Battle Over XRP’s Status and Its Implications
SpeedHash cloud mining Bitcoin Dogecoin passive income
SpeedHash cloud mining Bitcoin Dogecoin passive income
XRP Price Prediction Will XRP
XRP Price Prediction Will XRP Fall Below $2 Due to Market Trends
XRP Revolutionizing Dubai Real
XRP Revolutionizing Dubai Real Estate with Blockchain
Ethereum's $20 Billion Open
Ethereum’s $20 Billion Open Interest: Institutional Investment
AsterCrypto

AsterCrypto Is A Blockchain News Media, Pivoting On Intriguing Crypto Reports, Expert Opinions, Analysis, Reviews, And Extensive Coverage On Web3 Projects.

Find Us On Social

Facebook Twitter Pinterest Telegram

Legal

  • About Us
  • Contact
  • Privacy Policy
  • Terms and Coniditions
  • Disclaimer
Reading: Solana Price Faces Decline, Key Support at $120
Share

Contact Us

For Advertisement Advertise@astercrypto.com
For Contact Us Contact@astercrypto.com

© 2024 AsterCrypto. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?