The price of the cryptocurrency Solana continues to decline after reaching recent highs and is now in a critical support zone.
Current Situation in the Solana Market
Solana's price level is near an important support zone after dropping from $168. Analysts suggest the possibility of a dip to $105. According to analyst Batman, this situation resembles a typical bear trap, which could lead to a sharp recovery with a target level of around $260.
Impact of Technical Indicators
Not all analysts are optimistic. Man of Bitcoin points out that Solana may be completing a downward ABC wave, with important support levels around $122.77 and $109.84. The current structure indicates a continuation of bearish trends if the price remains below the recent high near $147.
Potential Price Development Scenarios
Analyst BitGuru is tracking a W-pattern that may confirm a bullish reversal if Solana holds above $139.55. If support holds, a rise to $156 is possible. However, a breakdown below $139.55 could confirm a bear trap prediction, leading to a drop to $105.
The question of Solana's future price dynamics remains open, and current support and resistance levels play a crucial role in determining the next movement.
