16 hour ago
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BEARISH 📉 : Solana risks breakdown as it returns to key demand zone
Solana's price has returned to a critical demand zone, which could determine whether its current trend continues or falters. This zone has historically been a pivot point where momentum either re-ignites or fades.
Key Observations
- A hold at this level may signal Solana's potential to lead the next altcoin movement, reinforcing its market strength.
- If the demand zone fails to hold, Solana may face extended consolidation and align with broader market fluctuations.
Potential Long Setup
- Ardi identifies the $119 level as crucial for Solana. A successful reclaim, possibly through a brief dip below resistance, could indicate returning demand.
- This scenario offers a favorable risk-to-reward ratio, providing a technical trigger and defined targets without excessive exposure.
- An alternative strategy involves monitoring the 200-week simple moving average near $100, previously acting as support in April 2025.
- Confidence may only return with a decisive move above $119, despite the broader downtrend risks.