Solana is facing a crucial support level at 141 USD; if it cannot maintain this level, the price may drop further to the 120 USD range.
Solana's trading volume has sharply decreased along with high selling pressure, showing that market sentiment is fluctuating between skepticism and high expectations for the future of this cryptocurrency.
MAIN CONTENT
Solana must maintain the support level of 141 USD to avoid deeper drops to around 120 USD.
Short positions dominate with 78.42 million USD, far exceeding long positions.
The trading volume decrease of 47% reflects a market in a state of waiting and uncertainty.
What warning chart patterns is Solana facing?
Technical analysts indicate that the expanding wedge pattern on Solana's 12-hour chart is a negative sign, potentially dragging the price down to the 120–125 USD range if selling pressure increases.
Crypto Tigers experts on platform X believe this pattern is very concerning, warning that Solana risks a deep drop if the market cannot sustain the current support.
$SOL Chart Looking Very Scary.
Crypto Tigers, cryptocurrency experts, 6/7/2025
However, another perspective from CryptoCurb experts shows that Solana's long-term growth potential remains significant, with price targets ranging from 169 USD to 420 USD. This creates a divergence in predictions and causes hesitance in the investor community.
How does the sharp decrease in Solana's trading volume impact it?
According to CoinMarketCap, Solana's trading volume in the past 24 hours dropped by 47%, indicating that many traders are temporarily pausing trading due to a lack of clear signals.
TinTucBitcoin assesses that SOL is at a crucial support level around 145 USD after breaking the downward channel pattern on the daily chart, signaling an important accumulation phase before the next strong fluctuation.
The decrease in trading volume reflects a high level of caution in the market before unpredictable fluctuations, often a sign of waiting for the next price decision.
Source: TradingView
If SOL loses the support level of 141 USD, the next drop could be to 120 USD. Conversely, closing above 160 USD daily will create upward momentum and aim for a target of 183 USD.
What does the inflow of Solana to exchanges signal?
Data from CoinGlass shows that in the past 24 hours, 4.26 million USD of SOL has been transferred to exchanges. This is often seen as a signal that investors may be preparing to panic sell when prices are unstable.
Source: CoinGlass
Large inflows to exchanges indicate that investors are actively protecting their capital, preparing for a prolonged bearish scenario or sudden strong fluctuations.
How strong is the selling pressure on Solana in the derivatives market?
Data from CoinGlass indicates that short positions reached 78.42 million USD, outperforming long positions of 53.97 million USD around the price range of 145-149 USD. This reflects a market sentiment leaning towards a bearish scenario.
Source: CoinGlass
This result shows that traders are heavily betting on Solana's continued decline, emphasizing that selling pressure is overwhelming and could lead to strong fluctuations in the near future.
Frequently Asked Questions
How low could Solana drop if it loses support? Technical analysis indicates that if SOL cannot hold 141 USD, the price is likely to fall to the 120 USD range, based on the expanding wedge pattern and current selling pressure. Is the current selling pressure on Solana strong or weak? Short positions currently dominate with over 78 million USD, far exceeding long positions, indicating that selling pressure is influencing market sentiment. How does the sharp decrease in trading volume affect Solana? The 47% decrease reflects cautious sentiment and indecision among investors, often leading to sideways price action or a market waiting for significant fluctuations. What does the inflow of SOL to exchanges mean? This inflow is a sign that investors are preparing to sell or adjust their portfolios, warning of potential negative price fluctuations ahead. What is the long-term outlook for Solana? Cautious experts still believe in the potential for strong growth with price targets from 169 USD to 420 USD, but are waiting for confirmation signals of the trend.
Source: https://tintucbitcoin.com/solana-giam-sau-nguy-co-tiep-tuc-lao-doc/
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