Will (SOL) Survive the Market Pressure? March 2025 Resistance & Potential Recovery

Jakarta, Pintu News – Solana SOL6.04%->Current SOL PriceRp 2.077.5186.04%Market CapRp 1.672 TriliunTrading VolumeRp 135,64 TriliunCirculating SupplyRp 479.179.305 recently struggled to break through resistance at $155 and experienced a sharp decline. In recent days, Solana (SOL) price has fallen below several key support levels, raising big questions about its short-term prospects in the cryptocurrency market.

Solana Price Drop

Solana (SOL) failed to maintain momentum above $140 and continued to slide, breaking important support at $132 and even $120. A recent low was recorded at $114, before the cryptocurrency managed to recover some of its losses. It climbed back up past $120 and $122, and surpassed the 23.6% Fibonacci retracement level of the decline from $151 to $114.

Currently, Solana (SOL) is trading below $130 and the 100-hour simple moving average. There is a short-term ascending channel forming with support at $124 on the hourly chart of the SOL/USD pair. However, on the upside, Solana (SOL) faces resistance near $128, and the next major resistance is $130. If it manages to break $132, it could be the start of a steady rise.

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Resistance and Recovery Potential

Major resistance lies at $132, which is the 50% Fibonacci retracement level of the last drop. A successful close above the $132 resistance zone could pave the way for further gains.

The next key resistance is $140, and a further rise might push the price towards $150. This would be an important indicator that buyers are back in control of the market and might set a recovery phase for Solana (SOL) prices in the medium term.

Possible Further Decline

If Solana (SOL) fails to break the $132 resistance, there is a possibility that the cryptocurrency will experience a further decline. Initial support lies in the $124 zone, with the next major support at $120. If the price falls below $120, Solana (SOL) may head towards the $114 zone.

A close below $114 support could trigger a decline towards $100 support in the short term. Technical indicators such as hourly MACD and RSI (Relative Strength Index) show a loss of momentum in the bullish zone, which could be a warning sign for investors.

Conclusion

With the current challenges facing Solana (SOL), it is important for investors to monitor key support and resistance levels. Investment decisions should be based on careful technical analysis and an understanding of the broader market dynamics. Solana (SOL) is at an important crossroads, and the next few weeks will largely determine its long-term direction in the cryptocurrency market.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Solana (SOL) Faces Challenges. Accessed on March 14, 2025
• Featured Image: VALR Blog