CandleFocus Solana (SOL) Plummets 45% in 30 Days: 3 Key Levels to Watch Next
2025-02-18
Author: Content Editor
Solana has experienced a significant decline of almost 45% in the past month amidst challenging market conditions and liquidity issues. The collapse of the $LIBRA meme coin has further deterred risk-on traders from participating in Solana, leading to investor losses of nearly $100 million. Technical analysis suggests that the break of the 200-day moving average was a crucial turning point, indicating a further correction. Immediate support is seen at $160, while the next significant support level is at $145. To reverse its downward trend, Solana needs to recover the key resistance level of $210, which has historically acted as a strong resistance point. The future of Solana remains uncertain, dependent on buyer interest at the support zones and the ability to surpass the $210 threshold for a potential rebound.
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