Current Price: $131.65 (Binance).
📉 Market Overview
Price $131.65 confirms that the bearish scenario has played out. The asset has broken through the critical support zone ($136.50 – $137.00), which was a strong signal of weakness. Solana is in a clear downward momentum and is moving towards the next major demand level. Selling pressure is increasing, and buyers have temporarily retreated.
• Overall trend: Strongly bearish, breaking support.
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📊 Technical indicators
● RSI (14) 38.0 🔴
● MACD (12, 26) -2.50 🔴
● EMA (20) 139.00 🔴
● SMA (50) 136.50 🔴
● Stochastic 25.0 🟢
● Volume (24h) 6.5B 🔴
(🟢 — Oversold/Potential bounce, 🔴 — Sell/Drop, ⚪ — Neutral)
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🔍 Detailed analysis
1. Moving averages (MA)
The 50-day SMA ($136.50) has been broken, which has now turned from support into strong resistance. The price is significantly below all key averages, which is a classic sign of bearish dominance. The level of $139.00 (20 EMA) is also far.
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2. Oscillators
• RSI (38.0): The indicator is approaching the oversold zone (below 30). This indicates that the asset is under strong selling pressure, but the potential for further decline is limited in the short term.
• MACD (-2.50): The negative histogram value is increasing, confirming the strengthening of bearish momentum after the breakout.
• Stochastic (25.0): In a zone close to being oversold, which may signal a possible technical bounce or slowing of the drop in the next 24 hours.
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3. Support and resistance levels
● Resistance zones:
• $134.00: Nearest local resistance.
• $136.50: Key breakout level (50 SMA). A return and consolidation above it is necessary to cancel the bearish scenario.
• $140.00: Psychological milestone.
● Support zones:
• $130.00: Key psychological level. The price will test it.
• $125.00: Critical demand zone. If $130.00 does not hold, this is the main target for the drop, where a strong buyback is expected.
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💡 Movement scenarios
● Bearish scenario (Main):
Current momentum is likely to lead to a quick test of $130.00. If this level is broken (especially on increased volume), the next stop is $125.00.
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● Bullish scenario (Technical bounce):
Due to strong oversold conditions in Stochastic, a temporary bounce is possible. To do this, it is necessary to hold $131.00 and bounce to $134.00. This bounce will only be corrective until the price returns above $136.50.
