Solana (SOL) recently showed a potential deviation at the key resistance level of $180, signaling a possible rotation lower toward significant support near $125.
Solana’s price action around the $180 level is critical in determining its short to medium-term direction. Recently, price candles closed above $180 but quickly reversed with the next candle closing back below this level, confirming a deviation-type rejection at this key resistance. This inability to hold above $180 suggests that sellers are defending this level, increasing the likelihood of a pullback.
If Solana fails to reclaim $180 decisively, the probability of a rotation toward the $125 support zone rises. This $125 level is significant as it represents a major support region on the macro daily trend, often acting as a technical high or low. A retracement to this zone would likely be considered bullish selling—a corrective dip before another potential leg higher.
Furthermore, the 200-day moving average is an important metric to watch. A break below this moving average could accelerate the downward momentum, making the move toward $125 more probable. Until then, Solana is still battling resistance and has yet to confirm a clear directional bias.
Solana’s price action around the $180 level is critical in determining its short to medium-term direction. Recently, price candles closed above $180 but quickly reversed with the next candle closing back below this level, confirming a deviation-type rejection at this key resistance. This inability to hold above $180 suggests that sellers are defending this level, increasing the likelihood of a pullback.
If Solana fails to reclaim $180 decisively, the probability of a rotation toward the $125 support zone rises. This $125 level is significant as it represents a major support region on the macro daily trend, often acting as a technical high or low. A retracement to this zone would likely be considered bullish selling—a corrective dip before another potential leg higher.
Furthermore, the 200-day moving average is an important metric to watch. A break below this moving average could accelerate the downward momentum, making the move toward $125 more probable. Until then, Solana is still battling resistance and has yet to confirm a clear directional bias.
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