Solana (SOL) Faces Major Trouble – Could Drop Below $170 Soon
Solana’s struggle below $200 continues, now down 17% from its monthly highs above $220. Despite previous bullish momentum, SOL is facing serious downside risks, with multi-month support levels in danger.
🔻 Why Is Solana Dropping?
- Memecoin Controversy – Scams linked to LIBRA, Pumpfun, and Meteora have shaken investor confidence.
- Declining TVL & Volume – TVL fell from 12B to 8.9B, while trading volume collapsed from 35B to 2.5B.
- Open Interest (OI) Drops – Fell from 6.5B to 4.1B after rejection from its ATH of $296.
🔍 Technical Breakdown Signals Bearish Divergence
📌 Breaking Below 200-Day MA ($183.47) – SOL is losing critical support.
📌 OBV Downtrend – Lower highs and lows confirm bearish divergence.
📌 Pivotal Resistance Zone: $181.99 - $178.50 – If bulls fail to hold this range, expect a drop below $170.
What’s Next for SOL?
- Bullish Case: SOL needs to reclaim $185+ quickly to regain momentum.
- Bearish Case: If support at $178 fails, SOL could dip below $170 this week.
With memecoin uncertainty hitting Solana’s ecosystem, will the bulls step in, or is a deeper drop coming?
🔻 Why Is Solana Dropping?
- Memecoin Controversy – Scams linked to LIBRA, Pumpfun, and Meteora have shaken investor confidence.
- Declining TVL & Volume – TVL fell from 12B to 8.9B, while trading volume collapsed from 35B to 2.5B.
- Open Interest (OI) Drops – Fell from 6.5B to 4.1B after rejection from its ATH of $296.
🔍 Technical Breakdown Signals Bearish Divergence
📌 Breaking Below 200-Day MA ($183.47) – SOL is losing critical support.
📌 OBV Downtrend – Lower highs and lows confirm bearish divergence.
📌 Pivotal Resistance Zone: $181.99 - $178.50 – If bulls fail to hold this range, expect a drop below $170.
What’s Next for SOL?
- Bullish Case: SOL needs to reclaim $185+ quickly to regain momentum.
- Bearish Case: If support at $178 fails, SOL could dip below $170 this week.
With memecoin uncertainty hitting Solana’s ecosystem, will the bulls step in, or is a deeper drop coming?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.