Solana’s Recent Decline

Solana (SOL) has recently experienced a sharp decline, falling 11.79% in the last 24 hours to trade at $141.22.

Despite this downturn, its social activity is now rivaling that of Ethereum (ETH), indicating growing interest in the asset.

$90M+ Solana Liquidations in 24 Hours

During the same period, Solana faced liquidations amounting to $90.91 million, with $83.15 million coming from long positions. In contrast, Ethereum recorded a 24-hour liquidation volume of $192.32 million, with longs contributing $176.60 million. This data emphasizes strong long-side liquidations in both assets, hinting at heightened market volatility. Furthermore, Solana’s market capitalization has dropped 11% to $69.94 billion, while its trading volume surged 225.77% to $8.58 billion, showing intense selling pressure.

Solana Price Downtrend Intensifies Below $150

Solana’s price started around $159.68 but has been on a continuous downtrend. The decline became more evident when it fell below $150, a key psychological support level. The lowest point reached was around $135, which may now serve as a potential support level. If the price fails to hold above this, further declines toward $130 or lower are possible.

$145 Resistance Level in Focus for SOL

Currently, $145 is acting as immediate resistance. This level has been tested multiple times and could limit any short-term recovery. A stronger resistance lies at $150, and breaking above it is crucial for a potential rebound.

If Solana can regain strength above $145, it might test the $150 mark again. However, a failure to maintain these levels could lead to more downward pressure.

Bearish Technical Indicators Persist for SOL

The Relative Strength Index (RSI) is at 25.14, placing SOL deep in oversold territory. This reading suggests excessive selling pressure, potentially leading to a short-term bounce if buyers step in. However, an RSI below 30 doesn’t always signal an immediate reversal, and additional bullish signals are required for confirmation.

MACD Confirms Bearish Momentum

The Moving Average Convergence Divergence (MACD) further confirms a bearish outlook. The MACD line is at -3.73, significantly below the signal line at -12.15. This shows strong bearish momentum, with the histogram remaining in negative territory. Currently, no signs of a trend reversal have emerged.

Long-Term Outlook: Solana Price Recovery

Despite market volatility, Solana’s price is projected to recover over the long term. According to Coincodex price predictions, by December 2025, SOL is expected to trade between $208.62 and $214.04. This would represent an increase of 49.85% from today’s levels, assuming an average price of $211.18. Investors could see potential profits of 51.88% if this prediction holds true.

Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Coin Edition is not responsible for any losses incurred as a result of utilizing the mentioned content. Readers should exercise caution before taking any action related to the company.