🔍 SOL/USDT Market Update – Short-Term Correction After Rejection at $183 🚨👇

The price of Solana (SOL/USDT) is currently trading at $179.30, reflecting a -1.05% decline in the past 24 hours. Let’s break down the latest market action based on the 15-minute chart and technical indicators.

📊 Price Overview

• 24h High: $185.87

• 24h Low: $177.32

• Current Price: $179.30

• 24h Volume: 2.89M SOL (~$524.78M USDT)

📈 Technical Analysis

Moving Averages (MA)

• MA(7): $179.40 → Short-term support zone

• MA(25): $181.16 → Acting as near-term resistance

• MA(99): $181.92 → Long-term resistance trendline

The rejection from the $183.42 level pushed SOL below both the 25 and 99-period moving averages, signaling weakness in the short term.

Candlestick Action

After consolidating near $182–183, SOL experienced a sharp sell-off down to $177.46, before rebounding slightly. This indicates strong selling pressure around the $183 resistance zone.

Volume & Momentum

• Volume spiked during the sell-off, showing increased bearish activity.

• The MACD is currently negative (MACD: -0.33, DIF: -0.57, DEA: -0.23), confirming bearish momentum.

• RSI (near 42) suggests SOL is approaching oversold conditions, leaving room for a potential short-term bounce.

🔮 Outlook

• Bullish Case: If SOL can reclaim $181–182, it may retest the $185.87 resistance. A breakout above could open the path toward $190.

• Bearish Case: Failure to hold $177–178 support may trigger further downside toward $172.

✅ Key Levels to Watch

• Resistance: $181.10, $183.42, $185.87

• Support: $178.47, $177.32, $172.00

⚡ Conclusion

Solana is in a short-term correction phase after rejection at $183. Traders should monitor the $177 support and watch for a decisive move above $181 to confirm recovery momentum.

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