Solana price dropped below the critical $200 level, continuing a downward trend in today’s trading. After beginning the year 2025 hovering above the $220 level, SOL now faces significant pressure. This decline accompanies other crypto market with BTC struggling to maintain its support level, currently just under $95,000. Questions are whether Solana will stabilize at $214, or is it destined to fall further to $183.
Predicting Solana Price: Major Move Up to $214 or Down to $183?
Crypto analyst Ali points out that Solana is currently experiencing a consolidation pattern, shaped like a symmetrical triangle on the trading charts.
According to the analyst, a decisive move either above $214 or below $183 could potentially trigger a price shift of around 40%. The technical analysis reveals that the cryptocurrency’s price action is tightening, signaling that a significant move may be imminent as it nears the apex of the triangle. Traders and investors are closely watching these levels as a breakout or breakdown could lead to substantial price changes.
SOL Price Analysis
Solana Price continues to experience market corrections, despite the excitement surrounding the recent SOL ETF approval. The cryptocurrency market struggles to maintain a steady upward trajectory.
Currently, the price of Solana is hovering within the $180 to $200 range, signaling a lack of clear direction as the market reacts to broader negative influences. As of Monday 13th, the SOL price hovered at $182, with a 2% decrease in the past 24-hours and a weekly dip of 15%.The Relative Strenght Index on the 4-hours chart is at 32, nearing the oversold region.
While Solana has established solid support above $180, preventing further declines amidst a general market pullback. If the price breaks above $200, it could target the $214 mark, suggesting potential for a bullish trend continuation up to $220.
On the other side, if it dips below $180, the Solana price forecast could face further drops, with $170 emerging as the next critical support level.
According to Coinglass data, the trading volume for Solana’s derivatives has surged by 26% to reach $4.86 billion. However, the open interest in these derivatives has declined slightly by 1.67%, now standing at $6.10 billion. This indicates a significant increase in trading activity even as overall positions have modestly decreased.
The Solana price dynamics currently present a critical juncture, hovering within a narrow range between potential breakouts and breakdowns. Traders are monitoring these thresholds closely as movements beyond these points could dictate short-term market sentiment and directional trends.
Frequently Asked Questions (FAQs)
The drop was part of a broader market downturn, affecting major cryptocurrencies.
Solana is consolidating within the $180 to $200 range, indicating a lack of clear market direction.
A breakout above $214 or a breakdown below $183 could lead to a significant price movement.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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