CandleFocus

Solana (SOL) Bears Threaten $225 Support as Buying Pressure Fades

Solana (SOL) is facing strong resistance in its attempt to reclaim its all-time high and has seen its price hover around $238. A liquidation heatmap indicates that there could be a drawdown in price, with high concentrations of liquidity at $246 and a potential support level at $225. The declining Chaikin Money Flow (CMF) suggests growing selling pressure and a potential price drop. The Balance of Power (BoP) indicator shows that Solana bears are in control, and if this trend continues, the price could drop below $225. The Fibonacci retracement indicator suggests that the altcoin could drop to $222 or even $200 in a highly bearish scenario, but if buying pressure increases, the price could rise to $265.

Related News