$SOL Reaches $135 - U.Today Analytics

Solana went down with the rest of the cryptocurrency market, hitting a $135 price threshold, which is considered a critical support level as it coincides with the 200 EMA. The drop below it would be a long-term bearish signal that hints at the continuation of the bearish trend. There is increasing pressure on Solana, which is currently trading at about $134. Traders' attention is focused on the 200 EMA at $131.29, which is a critical support level. A break below this mark would probably indicate the continuation of a bearish trend and might trigger additional drops.

In line with the bearish outlook, Solana has recently sold off and is now below its major moving averages, which include the 50 EMA at $147 and the 100 EMA at $144. Because of Bitcoin's recent decline below $60,000, the sentiment surrounding the cryptocurrency market as a whole has turned negative. Altcoins such as Solana are facing more pressure due to the wider market downturn. Bitcoin may push Solana down even more if it keeps having trouble. Solana is getting close to oversold territory. Although this might point to a possible rebound, technical indicators and the general mood of the market point to the possibility that any bounce would be fleeting unless conditions in the wider market improve. Solana may stabilize and possibly rise again if it can maintain its hold above the 200 EMA at around $130. #Ethereum #Solana #Shiba Inu