For the $SOL traders out there, it is important to pay close attention to the coin. All the available information from the charts shows weakening trends where Solana is currently approaching an important support level. The inability to defend this area from buyers could lead to a bigger decline.

Target price levels:

- Target #1: $70 – first main support level

- Target #2: $50 – panic level

- Target #3: $30 – possible capitulation in the worst case scenario

In this case, the breach of the existing support combined with the selling pressure would drastically increase the chance of the upcoming correction since the trend is still bearish.

It is important to closely follow the support level before taking any further actions in the market.

Dislaimer: This market analysis is done only for educational purposes and should not be taken as a financial advice. Everyone should perform his own research, take risks into account and never invest more money than one can afford to lose.

Discussion: What are your thoughts? Are you buying during dips, waiting for confirmation or expecting a big drop from the $SOL ?