🚨 𝗜𝘀 $𝗦𝗢𝗟 𝗿𝗲𝘁𝘂𝗿𝗻𝗶𝗻𝗴 𝗯𝗮𝗰𝗸 𝘁𝗼 𝗶𝘁𝘀 𝗹𝗮𝘀𝘁 𝗹𝗼𝘄𝗲𝘀𝘁 𝘃𝗮𝗹𝘂𝗲 𝗼𝗳 $𝟭𝟭𝟴? 🚨

$SOL /USDT is facing a sharp downward trend, showing a drop of -3.32% with the current price at $138.25. Traders are now questioning if Solana is heading toward a retest of its recent low at $118. Let's break down the analysis and see what's happening.

💡 Support and Resistance Analysis:

Resistance Levels: $140.00 remains a strong barrier, as multiple attempts to break it have failed. The next critical resistance is at $143.10 (24h high), but a bullish push is necessary to overcome this level.

Support Levels: $136.20 is currently the closest support level, holding the price from further declines. If this level is broken, we could see $SOL testing lower values around $134 and beyond. In a worst-case scenario, the price might revisit $118.

📉 Price Action: The chart is showing consistent lower highs, and buyers are struggling to gain momentum. Solana remains in a bearish zone on the short-term 15-minute chart, but a breakout could change the narrative if the market turns in favor of the bulls.

📰 Market Sentiment & News: Solana has been under pressure due to general market volatility and recent network issues that impacted transaction speeds. On a positive note, Solana's developer ecosystem remains strong, which could fuel future growth if the market stabilizes. However, until key resistance is broken, the risk of a further decline remains.

⚠️ Key Levels to Watch:

Resistance: $140.00, $143.10

Support: $136.20, $134.00

Keep an eye on these levels as Solana's next move will depend on how the price reacts around these zones.

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