Solana (SOL) Plunges 38% In a Month | Airdrop Alert Pro

Solana ((sol) is facing huge sales pressure, with a recent decline below $120, the lowest level since February 2024. Its decline has exceeded 38% over the past 30 days, strengthening its bearish momentum.

As the seller firmly controls the seller, SOL is now facing a major test of the support level, and any potential recovery requires a breakthrough in the critical resistance zone to indicate a shift in momentum.

Solana Ichimoku Cloud shows strong bearish settings

Solana Ichimoku Cloud shows that the price is currently trading below the blue Tenkan-Sen (conversion line) and the red Kijun-Sen (baseline), which suggests that the short-term trend is still bearish.

The price has recently bounced from local lows, but has not yet recovered these key resistance levels. In addition, the Ichimoku cloud (Kumo) ahead is red, reflecting the bearish feeling in the market.

The cloud itself is located much higher than the current price, which shows that even SOL experiences short-term recoveryit may face strong resistance in the $130 to $135 area.

The positioning of Tenkan-sen below kijun-sen further supports the bearish outlook, as this cross usually signals downward.

For any sign of a trend reversal, SOL needs to be broken Above these two lines, ideally entering the cloud, which will indicate a potential transition to the neutral phase.

Before that, the previous bearish cloud and the current weak price structure suggest that any rally could be temporary until the broader downward trend resumes.

SOL DMI shows sellers still under control

Solana Directional motion index (DMI) chart Revealing its average direction index (ADX) is currently 33.96, a significant increase compared to 13.2 two days ago.

ADX measures trend strength, while readings above 25 usually indicate a strong trend, while values ​​below 20 indicate a weaker trend or no trend exists. Considering this sharp rise, it confirms that Sol’s continued decline is strengthening.

Two days ago, +DI (positive index) fell from 15.5 to 11.71, but yesterday’s 8.43 rebounded slightly. By comparison, the -DI (negative orientation index) position is 32.2, up from 25.9 two days ago, although slightly lower than 35 a few hours ago.

The relative positioning of the +DI and -DI lines indicates that the seller is still in control because the -DI is still higher than +di.

The recent decline in -DI to 35.2 to 32.2 may indicate short-term relief, but as ADX climbs rapidly, it strengthens the general downtrend remains intact.

Slight rebound in +di indicates minors Buying pressurebut that’s not enough to turn the movement force to turn to the bull. Until +di rises to -DI or ADX starts to fall, Sol’s bearish trend may continuethe seller will lead the price action in the short term.

Will Solana be less than $110?

The Solana Index Moving Average (EMA) line continues to chart a bearish trend, with the short-term EMA below the long-term EMAS.

This consistency suggests that even if prices are currently trying to recover, the downward momentum remains dominant. If this rebound gains strength, Prices of Solana There may be resistance of $130 and $135, and for any potential trend reversal, key levels must be cleared.

A successful disruption beyond these resistors could push Sol to $152.9, a big level that could pave the way for Rally if strong buying pressure is violated. This is the price level that will be available on March 2, when SOL was added to US crypto strategic reserves.

But if the bearish structure remains intact and pressure is restored, Solana can retest support levels of $115 and $112 that have previously served as key price floors.

Failure to hold these support could open the door for a deeper decline, raising SOL to below $110 for the first time since February 2024.

Given the current positioning of EMAS, unless Solana retracts key resistance levels And establish a bullish crossover, indicating that market sentiment has changed.