Solana Plummets to 4-Month Low
Solana ((sol) is currently trading at the lowest level in 4 months. SOL’s price has fallen by 5% in the past 24 hours, with a sharp correction of 45% in the past 30 days.
This downward trend has pushed market capitalization to $70 billion. The continued bearish momentum is evident in the Ichimoku cloud and EMA indicators, which suggests that further disadvantages may arise.
Solana Ichimoku Cloud shows strong bearish settings
Ichimoku Cloud Solana shows a bearish trend. Prices are below the cloud, indicating a strong downward momentum. The red cloud ahead reflects bearish sentiment, with the front span A (green line) located below the leading span B (red line).
This suggests that the current negative momentum may continue. Tenkan-sen (blue line) is below the Kijun-sen (red line), which exacerbates bearish pressure, while Chikou Span (green lag line) is also below the price action, confirming overall negative sentiment.
There is a short merge phase, but Sol price failed to recover Fall down again. Currently, the price is stable, but the bearish structure remains intact.
To show any sign of a trend reversal, the price needs to exceed Tenkan-Sen and Kijun-Sen and then move through the clouds. However, as long as the price remains below these key Ichimoku levels, the bearish trend is likely to persist.
SOL whales are trying to recover
quantity Solana whale – The address holding at least 10,000 poles has been steadily declining over the past 30 days, reaching 5,017 on February 16, the lowest level since December 2024.
This suggests that large holders have been selling, which has led to a bearish trend on Ichimoku Cloud. When whales lower their position, sales pressures usually increase, thereby enhancing negative trends in the market.
This is consistent with the overall bearish sentiment shown by the cloud indicator.
Tracking whales is important because they can significantly affect price movements. Their trading activities can signal market trends because they control a large portion of the supply.
recent, Solana whales have shown signs of recoveryreaching 5,067. Although this is an improvement, it is still lower than in recent months, but is relatively high compared to historical value.
This shows cautious accumulation, but is not enough to change the bearish outlook reflected in the Ichimoku cloud.
Will Solana reach its lowest level in 6 months?
The EMA line of SOL shows a very bearish setting, with the short-term line below the long-term, and the gap between them is huge.
This indicates strong downward momentum and indicates sales pressure is dominant. If this downward trend continues SOL can be tested Support is $133, and if the level loses, it could drop further to $120 or even $110, which would be the lowest since August 2024.
The widespread separation between EMAs reinforces the intensity of this bearish trend, consistent with negative sentiment on the Ichimoku cloud.
On the other hand, if the trend reverses, it may indicate a potential shift in momentum. if Solana Price manages to restore powerit may first set the resistor to $152.
If this resistance is broken, the next target will be $171, and if that level is also exceeded, the SOL may return $180. The user also observed carefully The $1.9 billion Solana will start on March 1 It will affect its price.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
