🔎 What has happened with the price of Solana?

In recent days, Solana (SOL) has caught the attention of traders and investors after a sharp drop that took its price from a recent high of $172 to an approximate low of $150. Currently, the cryptocurrency is hovering around $153.81, showing a slight recovery after a week marked by volatility and selling pressure.

This drop has been driven by a generally weaker crypto market, where Bitcoin and Ethereum have also shown considerable pullbacks. Macroeconomic resistance and regulatory uncertainty in the United States continue to exert pressure on market sentiment.

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📊 Key supports and resistances

In the short term, technical analysts point out that the price of SOL faces several critical levels:

Immediate support: $155 and $152.

Strong support: $145.

Extended support: $132 (a low not seen in weeks).

Regarding resistances, the SOL/USD pair struggles to overcome $160, a level where a downtrend line has formed, reinforcing the negative bias. Above, $165 and $170 represent the next major challenges to overcome to confirm a possible trend reversal.

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📈 Are there signs of a reversal in sight?

Although the hourly MACD remains in negative territory and the RSI stays below 50 —indicating weakness— some analysts suggest that a clean breakout above $160 could pave the way for a technical recovery. This will depend on Solana's ability to hold above key supports and reverse the bearish momentum of recent sessions.

The more optimistic traders believe that eventual consolidation above $170 could reactivate buying and allow for an upward movement towards $180, a level that has recently functioned as a psychological ceiling.

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🌐 Why is this price zone so important?

The current levels of SOL are important because they define a balance point between buyers and sellers. The area around $160 has acted as technical and psychological resistance, halting several recovery attempts.

In contrast, $155 and $152 represent the last line of defense to avoid a deeper correction that could bring the price back to lows not seen in weeks.

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🤔 Is the moment to buy or sell Solana approaching?

With the market at a critical moment and volatility increasing, the key question is: Are we facing a strategic buying opportunity or a bearish trap that could drag the price even lower?

Only time —and the behavior of the support and resistance levels— will tell.

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