Solana Trading at $120 with Critical Support Risks Ahead
Solana is facing significant selling pressure, trading at approximately $120 and down nearly 60% from its all-time high. Broader market uncertainty and macroeconomic instability contribute to a lack of bullish momentum.
- Key support level at $120 identified by analyst Ali Martinez as critical for Solana's price trajectory.
- A failure to hold this level may trigger further declines, while maintaining it could allow for potential recovery if market conditions improve.
- Escalating global trade tensions, including new tariffs announced by the U.S., are impacting investor confidence across markets.
- Continued weakness could confirm a bearish breakdown, with analysts warning of a potential drop towards $95 if $120 does not hold.
- Reclaiming the $150 level is essential for any recovery, as it serves as a major resistance zone.
In summary, Solana's future direction hinges on its ability to maintain support at $120 amidst ongoing volatility in the crypto market.
