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Amid the restoration of the market, Solana (SOL) witnessed a huge correction that pulled its price to its lowest level for five months. If Sol fails to restore main support levels, some market monitors expect that Altcoin risk increases bleeding.
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On Monday afternoon, the encryption market continued to bleed the weekend after failing to get the main support levels. During the past 24 hours, most cryptocurrencies have decreased to the lowest monthly levels amid the latest market correction.
Bitcoin, the largest encryption by market value, has moved from a mark of $ 96,000 to its lowest levels in the post -election range before the support of 90,000 dollars lost for the first time since November.
Since the pioneering Crypto PED PLED, followed Solana, one of the pioneers in this course, BTC steps. Sol decreased by 12 % of the support of $ 150, as it benefited from the level of $ 140 and fell to $ 131 on Tuesday morning, its lowest price since September.
Analyst Miles Deutcher indicated that Solana's feelings have reached its lowest level in more than a year. According to The Post, the feeling of Sol was not low since the cryptocurrency was first recovered at the beginning of $ 100 at the beginning of 2024.
It should be noted that the market morale has turned over the past few weeks, as many members of society have expressed increased fatigue from many of the Solana -based Solana fraud.
After the scale icon collapsed, which witnessed more than $ 100 million taken from investors, the market began to see the Capital rotation from Solana to Ethereum. At that time, the Sol price decreased by 12 %, the support zone of $ 180 lost and its failure to restore it during the past week.
Deutscher stated that Solana “finally passes the moment she surrenders” after being the best performance throughout the past year. He also pointed out that surrender indicates that the bounce can come.
50 % to a decrease?
Crusion analyst generation High Solana records a 50 % decrease from the highest level of January and recover to a main weekly level. The region was $ 130 and $ 140 a major support level throughout the 2021 period (ATH) and raised 2024.
Jelle also suggested that the contract of this area be the key to the Solana performance, as opening the next distinctive symbol, scheduled for the first of March, will affect its price.
Ali Martinez Stuck On the last SOL performance, noting that the Sol -BTC trading pair is similar to ETH/BTC. According to the analyst, the Sol/BTC chart began to look like an ETHEREUM trading pair for the previous BTC procedure.
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If this pattern continues, the Sol/BTC may be ready by a 50 % decrease to 0,0008, sending the Solana price to a $ 70 region.
Meanwhile, altcoinherpa Vision The area is from 90 to 125 dollars, a “overall good zone” for purchase, because it is not believed that Solana is “dead”. The analyst added that Sol is likely to recover from its lowest levels, but he expects some fluctuations.
As of the writing of these lines, Sol is trading at $ 141.36, a 45 % decrease in the monthly timetable.
Distinctive photo of Unsplash.com, Chart from Tradingview.com
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