Solana $200 Level Recovery Looks ‘Very Solid’, Bleeding Over?
As most crypto markets are still in a red state, Solana (SOL) has begun to recover from the sharp correction of the market. In the past 24 hours, the price of cryptocurrencies has soared by 7.5 %, recovering from its three -week low, and led some analysts to suggest that bleeding may end.
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Solana fell to a three -week low
On the weekend, the price of Solana reached 27 % from Highs on Friday to a three -week low of $ 175. Recently, after the overall market collapsed, the overall market collapsed Announce The country’s three largest trading partners tariffs.
On February 1st, the White House revealed that Donald Trump is improving new tariffs on imported goods in Canada, Mexico and China. This measure was a similar response from two neighboring countries, announcing that they would impose tariffs on the US import.
The fear of the Global Tariff War triggered a huge selling, which reduced the price of Bitcoin to $ 91,200, and the price of Ethereum fell to $ 2,100. In addition, although Bybit’s CEO suggestion This number may be as high as $ 10 billion.
Solana lost $ 200 support area and fell below $ 180 on Sunday evening. With the market struggle, some analysts suggestion The price of the Sol may decline deeper. Analyst Ali Martinez pointed out that if Sol lost $ 191 from its multi -month upgrade channel, Sol may review to $ 138.
Encrypted trader bluntz consider Lost $ 220 support is “really bad” for Altcoin because it is similar to the differential sign of the decline in 2021. In addition, it makes it invalid “high ABC” and makes it look “more impulsive”, which will need a “miracle” to overcome it.
This level must be maintained
Although below the critical level, cryptocurrencies re-tested the US $ 170-180 support area and bounsed from a $ 175 of a $ 175 to try to break the $ 200 resistor in the next hour.
Crypto analyst Jelle pointed out that Solana Jump It has reached its latest historical and latest high price (ATH), with a price of $ 295.
However, Jor thinks Sol structure During the decline, “maintaining sound”, with the recovery of cryptocurrencies on Monday morning, its charts seemed “very stable”.
It is worth noting that in market bleeding, Solana is one of the cryptocurrencies that show strength. Like BTC, SOL maintains its critical level and keeps within the subsequent election price range.
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Martinez tip “In the middle of this crazy, the TD sequence indicator presents a purchase signal on the Solana DaiLE chart.” At the same time, Miles Deutscher emphasized that the price of BTC and SOL is “higher than yesterday’s liquid”, Notice Affects the market’s high volatility.
In addition, Solana, which is used with BTC and XRP, is one of the top 10 cryptocurrencies that record green numbers. Jelle believes that if SOL is closed between monthly and weekly support of $ 200 to 210, it will continue its stable performance to re -test $ 240 resistance and see “another price of $ 300”.
When writing this article, the transaction price of Solana was $ 211, an increase of 7.5 % daily schedule.
Special images from unsplash.com, chart of tradingView.com
