SOL plunged 8.58%! Can it turn around in the next 24 hours? Support is crucial!

Trend analysis:

Solana (SOL) is currently priced at $169.60, and has fallen significantly in the past 24 hours, with a drop of 8.58%. The current downward trend of SOL is strong, and it has fallen below several important moving averages (including the 7-, 25-, and 99-day moving averages), forming a bearish trend. In the next 24 hours, if SOL cannot stabilize the current support level of $163.17, it may face a deeper adjustment. On the contrary, if it can get support at this point, it may form a rebound trend.

Bull-bear game:

Bears still have the upper hand, and both MACD and DIF lines show a large negative gap, indicating selling pressure. RSI (6) is currently 26.41, which has entered the oversold zone. A technical rebound may occur in the short term, but whether the rebound can be sustained depends on market sentiment and the reliability of support levels. The increase in trading volume also provides momentum for bears, and market sentiment is relatively pessimistic.

Support and resistance:

• Support: $163.17

• Next support: $161.01

• Resistance: $172.81

• Short-term target: If the rebound is effective, the target is around $174.50.

Ending:

Will SOL continue to look for opportunities at the support level of $163.17, or will it go directly lower? The comments section will tell you! For more real-time trend analysis, remember to follow us!