Solana (SOL) traders are closely watching price action as the asset struggles to maintain momentum. There is a bearish triangle formation on the twelve-hour chart. A failure of the price to push through could lead to a massive selloff.
According to analysts, a rejection of SOL at $220 has the potential to lead to a 25% slump. This may challenge the support close to $145.
Solana Price Triangle Pattern and Key Resistance Levels
Market analyst @best_analysts has identified a triangle pattern forming on Solana’s chart, indicating price consolidation between key levels. SOL has failed to overcome the $220 resistance level, despite this level having been a resistance level in the past. If this pattern fails and the price gets rejected it could lead to more selling pressure.
📉 SHORT: #SOLUSDT | $SOL | 12h
Solana's price may briefly rise before potentially dropping 25% to $145 if it fails to break a triangle pattern.
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— Crypto | #1 Free Signals (@best_analysts) February 7, 2025
The first level of price support is the area around $145, which corresponds to previous trading levels. This level could be seen as a critic
We współpracy z: https://www.thecoinrepublic.com/2025/02/10/solana-sol-price-faces-potential-25-drop-if/
