Solana has seen an 11.8% price drop after reaching a crucial resistance level. Market shifts indicate a potential test of the $110 level.
Solana's Support Weakens in the $144.70-$149 Area
An analysis of four-hour price movements shows SOL approached an important daily timeframe order block near $149. This area previously served as a strong selling zone, where the price faced resistance and retraced.
Bearish Pressure Strengthens Targeting $110
Bears maintain control at higher price levels after a recent rejection in order blocks. Low resistance liquidity channels highlight the weak buying demand. Sellers continue to target $110 support levels.
Future Outlook: Potential Rebound?
The current bearish momentum suggests SOL might decrease to $110. Additional selling pressure may occur once it falls below this zone. Buyer dominance from this mark might lead to a resistance retest in the $144.70 - $149 range.
Current market conditions show strong selling pressure on Solana with the potential for testing $110. This dynamic could shift if traders take action to retest higher resistance levels.
