- SOL meets robust selling pressure within the $144.70-$149 price range that resulted in an 11.8% price decrease while sellers aim to reach the $110 market sentiment level.
- Weakening buying demand in low-resistance zones indicates that SOL prices could fall to test the $110 price level in upcoming market days.
- A breakdown below the $110 price level seems likely for SOL yet it could experience a brief recovery that challenges the $144.70-$149 area.
Solana (SOL) has shown signs of a potential price reversal after testing a crucial resistance level. Recent market movements indicate that the asset has retraced approximately 11.8% from the identified entry zone, reinforcing a downward bias.
Analysis of the SOL price movements over 4 hours showed the asset approached an important daily timeframe (DTF) order block near $149 which served as a previous intense selling area. A major resistance area existed between $144.70 and $149 which prevented price from advancing. The price showed resistance at this zone which stopped SOL from rising above this area and triggered a rejection and price decrease.
Source:(X)
The prices of SOL have drifted to $127.72 since its peak while bearish momentum drives it toward regions of lower market liquidity. According to market analysts SOL has low resistance liquidity regions and equal lows forming near $110 which shows a strong possibility of downward price movement.
Bearish Rejection Strengthens as Sellers Target $110 Support
Sellers maintain control at higher prices after the recent rejection of bearish order blocks. The price examined a critical resistance level but could not maintain its upward movement thus strengthening bearish market pressure.
The price movement through minimal resistance liquidity channels serves as a primary analysis point due to weak buying demand in that area. Sellers continue to aim at $110 support levels thus making them a potential key indicator for market trend.
A sustained bearish trend persists because order block zone prices declined by 11.8% which validates the current downward momentum. The present continuous selling pressure indicates the price could fall to $110 support before the upcoming trading days.
Solana Future Outlook
The bearish momentum shows potential for SOL to decrease down to $110 which serves as historical support. Additional selling pressure will manifest after SOL falls below this zone and push prices downward. A rise in buyers’ dominance from this mark might initiate a resistance recheck at the $144.70 – $149 area.
