SOL USD Falls Below $140: For How Long And To What Extent?
SOL USD has decreased by 25% over the last week and is finally experiencing a deadcat bounce. This could potentially be a maneuver by major players to acquire the freshly issued
Solana
6.04%
Solana
SOL
Price
$141.27
6.04% /24h
Volume in 24h
$9.23B
Price 7d
ETFs. Perhaps. Regardless, the price reached a new ATH of $295 this year, representing a 35x increase from the $8 low in 2022. It’s understandable if individuals are cashing out profits here.
https://twitter.com/solana/status/1990800014034219188?s=20
Having ETFs trading now is undeniably a significant achievement. Since their inception, the total net assets (Spot SOL ETF) currently exceed $500 million. Fidelity’s involvement could trigger fresh capital inflows, potentially concluding the nearly two-year trading range.
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How is SOL Faring Against Bitcoin?
(Source – Tradingview, SOLBTC)
When assessing altcoins achieving new peaks, their performance relative to BTC is crucial. During non-BTC crypto seasons, all the coins that rally generally outperform BTC. On the 1D SOLBTC chart, a break in market structure, a Higher High, and hopefully a Higher Low have potentially formed at this juncture. Should the daily candle close as Bullish Engulfing, it will signify a major success.
SOL USD Critical Levels To Monitor Next
(Source – Tradingview, SOLUSD)
Let’s examine the SOL USD charts now. Starting with the Weekly timeframe, we observe that since early 2024, we have operated within the $126 – $255 range. The pressing question is, from which level will the price break out—bottom or top? It’s significant to note that we are currently below both MA50 and MA100, leaving only MA200 as a possible support. This correlates with the April 2025 low, a pertinent point to consider if we witness lower figures.
The RSI has remained relatively calm for over a year. There exists a weekly FVG between $46 and $51. Additionally, two Monthly FVGs are not displayed on this chart. The upper one ranges between $68-$78, and the lower one is between $38-$58. Personally, this represents the lowest potential decline I foresee for SOL.
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(Source – Tradingview, SOLUSD)
Ultimately, we will delve into the Daily chart. There exists a pivotal zone/range from $180 to $205 that was breached and never retested afterwards. This indicates a lack of sufficient available volume in that area, prompting market makers to pursue buyers at lower price points. Presently, Solana’s price sits beneath all Moving Averages and needs to reclaim them all to make another attempt at a new ATH. Next, we look at the RSI, which seems to have reached its bottom. Let’s observe how the Daily candle closes.
For many, it is a waiting game. Investors might be DCAing here, whereas traders should wait for confirmation, as Solana currently occupies uncertain territory.
Stay safe out there!
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SOL USD Dips Below $140: How Long And How Much Further?
- SOL USD price dipped below $180 price floor. Needs to recover for more upside!
- The RSI on 1D has bounced from oversold levels. A deadcat bounce to $160 might be on the horizon.
- The price may have established a higher low on the SOL Bitcoin chart. Perhaps.
- Solana ETFs indicate that buyers are showing interest.
The post SOL USD Dips Below $140: How Long And How Much Further? appeared first on 99Bitcoins.
