⬤ Solana has dropped to a critical support zone around $130 after weeks of selling pressure. The SOL/USD chart shows price sitting near recent lows, creating conditions where a bounce could materialize with proper risk management through tight stop-losses.
⬤ The bigger picture remains bearish, with price grinding lower through multiple support levels. Now sitting in a zone where buyers have previously stepped in, the setup could trigger a temporary relief rally even as the downtrend stays intact.
⬤ “Current levels offer a tactical opportunity for a bounce play, though traders should keep expectations realistic given the weak structure,” according to technical analysis of the chart pattern.
⬤ Any upward move from here would be a counter-trend bounce rather than a reversal signal. The focus is on a quick short-term pop while respecting that the broader momentum still points down. How price reacts at this support will show whether we get that brief recovery or if selling continues.
Solana Tests $130 Support Zone as Traders Eye Potential Short-Term Bounce
⬤ Solana has dropped to a critical support zone around $130 after weeks of selling pressure. The SOL/USD chart shows price sitting near recent lows, creating conditions where a bounce could materialize with proper risk management through tight stop-losses.
⬤ The bigger picture remains bearish, with price grinding lower through multiple support levels. Now sitting in a zone where buyers have previously stepped in, the setup could trigger a temporary relief rally even as the downtrend stays intact.
⬤ “Current levels offer a tactical opportunity for a bounce play, though traders should keep expectations realistic given the weak structure,” according to technical analysis of the chart pattern.
⬤ Any upward move from here would be a counter-trend bounce rather than a reversal signal. The focus is on a quick short-term pop while respecting that the broader momentum still points down. How price reacts at this support will show whether we get that brief recovery or if selling continues.