Solana Approaches Critical Support at $145 Amid Rising Global Tensions

1 min

Solana (SOL) is experiencing significant selling pressure, having dropped over 15% since June 11 due to rising global uncertainty related to the Israel-Iran conflict. This decline follows a bullish start to June, and SOL is now approaching critical support levels.

Key Points

Current price of SOL is $145.24 after falling from the $165–$170 range.
Recent geopolitical tensions have increased market volatility, affecting risk assets.
SOL is re-testing a key daily demand zone around $145, essential for potential bullish recovery.
A failure to hold this level could lead to further declines towards $130.
Technical indicators show a breakdown below major moving averages, with the 200 SMA at $165.33 acting as resistance.
Higher trading volume indicates strong buying interest at current levels but remains fragile.
Traders are closely monitoring if buyers will defend the $145 support or if the market downturn will continue.

The next few days are crucial for determining whether SOL can recover or face deeper losses.