Binance Makes Big Announcement With New Solana, Worldcoin and Filecoin Listings
As of now, SOL is manifesting a downtrend within a bearish channel pattern. The price has recently faced resistance at the upper trend line of this channel, suggesting a possible continuation of bearish momentum. Key support levels to watch include the psychological round number at $100, followed by a more established support at around $90 which, if broken, could lead to a further slide.
If SOL fails to hold the $100 level, we could witness a steeper decline, with the next substantial support level at $90. A break below this could potentially open a path toward the $80 mark, especially if broader market sentiment remains negative.
A bullish reversal could occur if SOL finds solid footing at the current support levels. For a shift in trend, SOL would need to break out of the descending channel, pushing past the immediate resistance near $110. This could indicate short-term bearish exhaustion and potentially signal the start of a recovery phase, targeting subsequent resistance levels at $120 and above.
