Solana has experienced a significant decline after reaching an all-time high. Let's look at the current situation and future forecasts.
Situation of Solana (SOL)
After breaking the resistance at $210, Solana reached a new all-time high at $267. The price then retraced to $170, marking a decline of over 36%. The current support level at $170 strengthens buying interest, potentially opening up the possibility for a new rise. At the time of writing, SOL's price is around $196, above a significant value area and 200-day moving average.
Focus on Solana Derivatives (SOLUSDT)
Interest in SOL/USDT perpetual contracts is declining in line with the price drop. CVD indicators also decreased, indicating a predominance of sell orders. The funding rate turned negative, suggesting bearish market sentiment. However, liquidations remain limited, pointing to a certain balance and managed volatility.
Forecast for Solana Price (SOL)
If the price remains above $170, a return to $220–$240 levels is possible. With further rise, resistance around $270 should be watched, with potential to return to ATH of $295. Conversely, a fall below $170 could lead to testing supports at $155 and possibly $130.
Despite correction, Solana shows resilience supported by key levels. Medium and long-term forecasts remain positive, but confirming the trend requires careful observation of price reactions.
