Solana Bearish Trend Deepens: Is $164 Support the Next Stop For SOL?

Quick Summary:

With the 100-day SMA holding as a crucial resistance, Solana may face further declines unless there’s a reversal in market sentiment or a breakout above key resistance levels.  Solana’s Market Outlook: $164 Support Level To Determine Next Price Action Solana’s market outlook remains highly dependent on its ability to maintain the crucial $164 support level.

Should selling pressure persist and a breakdown below this level occurs, a bearish trend toward the next support zones, such as $137 or even $118 for SOL is likely.  Related Reading: Solana (SOL) at a Crossroads: Can It Break Through and Turn Bullish?

At 25%, the cryptocurrency is in the oversold zone, indicating strong selling pressure and a market dominated by bears.  While this suggests SOL could be undervalued in the short term, it also implies that the upward trend is losing momentum.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: United KingdomNorth KoreaNigerNigeria

Topics: Relative Strength Index Solana SMA SOLUSD RSI SOLUSDT Simple Moving Average SOL Price Altcoin Solana Price Sol

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-17 @ 12:00:27 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 452 words

Reading Time: 3 minutes read

Sentences: 75 lines

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Copyright Owner: © NewsBTC

News ID: 26222347

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