Solana (SOL) Price Prediction: Will $175 Hold or Break? 🔮
Despite a mostly red market, Solana (SOL) remains in the spotlight. The SOL/USD pair has dropped 1.8% over the past 24 hours, trading at $184.75 at press time. As traders eye key support levels, the question remains: Is a deeper correction on the horizon, or will bulls step in to defend critical zones?
---
Short-Term Outlook: Testing Key Support Levels
On the hourly chart, SOL is breaking through local support at $185.58. Here's what to watch:
If today’s candle closes below $185.58, the decline could extend to $180.
Critical Level: A break below $180 would signal increased selling pressure, setting the stage for a retest of the $175.26 zone.
---
Mid-Term Outlook: Eyes on $175.26
On the daily chart, the picture leans bearish:
If SOL fails to hold $175.26, the next support is at $160—a key level that could attract buyers.
Traders should closely monitor the daily candle closure relative to yesterday's low for further confirmation of trend direction.
---
Weekly Chart: Bearish Signals Building
On the weekly time frame, Solana’s trend appears more bearish:
If the price reaches and breaks $175.26, a correction to $160 may follow, creating a potential opportunity for buyers looking to enter at lower levels.
A strong bounce off $175 could, however, signal a reversal and a possible recovery towards $200.
---
Key Levels to Watch 📊
Immediate Support: $185.58
Critical Support: $175.26
Potential Downside Target: $160
Upside Target (if $175 holds): $200
---
Final Thoughts
Solana’s price action suggests caution for short-term traders, with bearish momentum dominating the charts. However, these corrections may provide an opportunity for long-term investors to accumulate at lower levels.
Stay alert, manage your risks, and keep a close watch on $175.26—this level could define Solana's next big move.
What’s your strategy for SOL? Share your insights below!
#Solana #SOLPriceAnalysis #CryptoPredictions #BinanceTrading #BTCXmasOrDip?