Market will more down due to Global Strike for Gaza Palatine, 💀☠️

$SOL

📊 Downside Risks if Solana Support Level Fails to Hold 📊

If Solana breaks below the $120 Solana support level, analysts warn that the next logical price target lies near $95. This area corresponds to both the 200-day moving average (MA) and the exponential shifting average (EMA), forming a strong technical confluence. A drop in this region would likely confirm a deeper bearish trend, echoing patterns observed in late 2023. Investors may interpret such a move as a loss of long-term bullish structures, resulting in additional pressure and market instability.
The failure to defend $120 would also undermine key findings from the recent Solana technical analysis, suggesting a strong possibility of prolonged downside. Market sentiment can change quickly as confidence increases. Without intervention from bulls or a shift in economic conditions, SOL may struggle to find significant support until much lower levels are achieved. Therefore, preserving the $120 threshold is not just technical; it is likely to define investor sentiment and Solana’s position in the broader market landscape.

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