$SOL Sees a 30% Decline Over 10 Days: Market Uncertainty Grows
Solana ($SOL) has experienced a sharp downturn, dropping from a high of $275 to its current price of $180.45—a 13.4% loss in the past 24 hours alone. After reaching a 24-hour high of $211.35, the price plummeted to a low of $180.18, leaving traders grappling with market unpredictability.
Key Levels to Watch
Support: $179.19 – A break below this critical level could trigger further declines.
Resistance: $186.40 – Bulls need to reclaim this level to signal a potential recovery.
Trade Setup
Entry Point: Around $180.45 for a short-term opportunity.
Targets:
1. $186.40 – First resistance zone for potential recovery.
2. $193.59 – Next resistance level if momentum builds.
Risk Management
Stop-loss: Set at $179.00 to limit downside risk.
Market Insight
Bearish sentiment remains dominant, but traders should watch for a potential bounce near the $179 support level. While short-term opportunities exist, it's crucial to manage risks carefully in this volatile environment.