Solana (SOL) Price Prediction for February 18
Sol is the fifth largest cryptocurrency in the world, and the market value of the division has not remained strong and is now expected to decline. Current market sentiment seems to be bearish, with the magnitude of major assets falling significantly. SOL also broke off with a key support level of $180.
Solana (Sol) price action and upcoming levels
According to expert technical analysis, sol It has been receiving support from this critical level since November 2024 and has been tested several times.
But this time, it lost this key level because the asset could not be maintained and closed below $180 under the daily candle, partially confirming the bearish forward. Based on recent price action and historical patterns, Sol may see a 15% price drop, reaching the $155 level in the coming days.
$115 million worth of SOL outflow
After this significant breakdown, investors and long-term holders have been accumulating SOL tokens as Chain Analytics reported Small shop. Data from spot inflows and outflows suggest that the exchange witnessed a large outflow of assets worth $115 million, indicating potential accumulation.
In this bearish market trend, such outflows create buying pressure and may lead to a price rebound.
However, intraday traders seem to be following long-term holders because they seem to be betting on long-term.
$45 million, long bet
Data shows that traders holding long-term positions strongly dominate the assets and leverage at a price of $174.3 for a long position worth $45 million. In such an important open position, this level is crucial support.
Instead, $180 is another key level, with traders holding short positions over-leverage, worth $15.5 million in short positions. This shows that short sellers have run out, which can help the Bulls regain their lost support levels.
Current price motivation
SOL is currently trading close to $177, down 6% in the past 24 hours. During the same period, its trading volume soared 110%, indicating that traders and investors’ participation increased as prices fell.
