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Solana definitely broke down and lost a critical level of support after news that the United States has launched an attack on Iranian nuclear facilities. The unexpected geopolitical development led to widespread panic in financial markets, where Altcoins achieved the most difficult affected. Solana in particular has seen a considerable sales pressure and fell 20% compared to its high of around $ 185 and now acts almost $ 148.
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This breakdown confirms the concern of investors that SOL’s rebellion has been weakened. Top analyst Carl Runefelt noted that Solana has completed a head and shoulder pattern – a bearish technical structure that often signals a deeper downwards. The price is broken under the neckline of this pattern, which confirms the potential for continuous decreases in the short term.
The addition of the Bearish outlosing views is Solana’s inability to reclaim his earlier support levels during short bounces. With momentum indicators that rattles negatively and wider market sentiment, the chance of a rapid recovery seems to be slim, unless macro conditions stabilize.
Solana is confronted with a deeper correction while bearish pattern unfolds
Solana’s Bullish Momentum at the end of 2024 is almost faded, replaced by stagnation and sharp corrections as market conditions deteriorate. Now SOL now acts more than 50% under the all time and Sol is struggling under the weight of global macro-economic uncertainty and rising geopolitical tensions. The American military strike in the field of Iranian nuclear facilities has only added to volatility, which means that shock waves are sent by both traditional and cryptom markets.
While Solana was one of the strongest artists during the previous cycle, the price action has certainly become Bearish. Bulls did not succeed in maintaining critical support levels and the active is now broken under its short -term trend structures. According to RunefeltSolana has completed a main and shoulder pattern, a classic technical signal that often precedes a long-term downward trend. The neckline of the pattern has been broken and the projected Bearish – target is now about $ 106.30 – a level that has not been seen since February.
The breakdown also reflects a wider weakness in the Altcoin market. Despite earlier expectations in an altitude season, Capital has rotated from risk activa, so that Bitcoin and Stablecoins prefer uncertainty. The inability of Solana to reclaim earlier highlights or to establish higher lows, indicates a retreat market. Momentum indicators continue to flash red, and unless bulls that are lost quickly, quickly reclaim the ground, Sol could be confronted with a longer period of consolidation or further losses.
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Sol -Price analysis: undergo under key support
Solana is under pressure while under the critical 200-day simple advancing average (SMA) breaks around $ 149.54, a level that had previously acted as dynamic support. This breakdown indicates that the growing bearish sentiment as a price promotion confirms a loss of Momentum after weeks of consolidation under the resistance zone of $ 155 – $ 160. From now on SOL acts around $ 135.99, a decrease of almost 3% on the day and more than 20% compared to the highs of May.
The graph shows a rejection near the 100-day SMA (green line), and the ongoing movement among both the 200-day and the 50-day smas (blue line) points to a shifting structure, which leans heavily to the disadvantage. The volume remains raised on red candles and confirms that the demolition is supported by increasing the sales pressure instead of a low-liquidity movement.
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If the current trend continues, Solana could again visit the range of $ 120 – $ 125, which was used as strong support earlier at the beginning of Q1 2025. A daily closing above $ 149 would be necessary to neutralize the bearish structure in the short term and the shift of sentiment. Until then, the narrow risks dominate.
Featured image of Dall-E, graph of TradingView
Credit : www.newsbtc.com
