Solana (soil) continues to cope with the down pressure of the pressure, because the price slipped below the psychological level of $ 150, marking a decrease of 5.2% in the last 24 hours.
The sale intensified during the session in the early afternoon with high volume flood exchanges. Analysts attribute the decline to more than 3 million soil chips transferred to centralized platforms in the last three days, coinciding with more than $ 468 million in estimated outings.
This significant change in the activity on the chain questioned the doubt about the prospects for short -term recovery, even if the Solana network continues to publish strong measures of use.
With more than 100 million transactions and 7 million daily active addresses, the fundamentals suggest a long -term force, but prices are disconnected from the performance of the protocol.
Analysts claim that resistance recovery at $ 153 and that stabilization of $ 150 is now essential to prevent a deeper retirement.
Strengths of technical analysis
- Sol-USD displayed a beach of $ 8.19 of $ 157.98 to a minimum of $ 149.79.
- The price violated psychological support at $ 150 during an increase in volume from 182k to 1:56 p.m.
- The resistance remained firm at $ 153.00, because the repeated recovery attempts failed during the late session.
- A descending channel developed with lower ups and lower stockings overlooking the graph.
- The surtend volume at 13:39 (21k), 13:45 (66k), 13:51 (89k) and 13:56 (182k) confirm the aggressive sale.
- A modest purchase interest emerges around $ 149.50 to $ 150.60, but the downward risk persists if the bulls cannot hold the current floor.
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