Solana (SOL) Price Analysis and Forecast: Can the $125 Support Hold?
Solana (SOL) recently experienced a sharp dip to the $110 zone before rebounding swiftly. From a technical analysis (TA) perspective, the $125 support level is currently a key defence zone for the asset.
If SOL maintains its position above $125, we could see a continuation of bullish momentum. However, a decisive break below this level could expose the cryptocurrency to further downside, with the next major psychological support resting at $100.
For long-term investors, the current price action presents potential accumulation opportunities.
Maintaining a strategic approach with proper risk management will be crucial as market volatility persists.
Solana (SOL) recently experienced a sharp dip to the $110 zone before rebounding swiftly. From a technical analysis (TA) perspective, the $125 support level is currently a key defence zone for the asset.
If SOL maintains its position above $125, we could see a continuation of bullish momentum. However, a decisive break below this level could expose the cryptocurrency to further downside, with the next major psychological support resting at $100.
For long-term investors, the current price action presents potential accumulation opportunities.
Maintaining a strategic approach with proper risk management will be crucial as market volatility persists.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.