Solana Faces Critical Support Levels Amid Market Pressure

Solana is in a critical demand zone around $150, after several weeks of selling pressure and changes in market sentiment. The price is currently approximately 20% below the May high of $185, and attempts at recovery are encountering strong resistance. Analyst Efloud notes that if Bitcoin continues to consolidate sideways and its dominance increases, altcoins, including Solana, may face difficulties. In this case, Solana may find support at the levels of $123 and $116, which have already served as significant points of support and resistance. If Solana can overcome the resistance at $168, a move towards $230 is possible.

Comment:

Support at the levels of $123 and $116 will be key for Solana if negative trends in the market persist. However, the growth potential remains if Solana can break through the resistance at $168. Investors should pay attention to Bitcoin's dynamics, as it can significantly influence Solana's further movement.