Solana (SOL) Experiences Drastic Decline, What is the Outlook? SOL Recovery Analysis (5/4/25)

Jakarta, Pintu News – Solana (SOL) has recently experienced a significant drop after failing to break the $180 resistance level or around Rp2,968,020. This downward trend is similar to that experienced by Bitcoin (BTC) and Ethereum (ETH), where SOL plummeted below the $165 (Rp2,720,685) and $155 (Rp2,555,595) levels.

The decline became sharper after SOL prices broke the bullish trend line at $148 (IDR2,440,372) on the hourly chart. Currently, SOL is trading below $140 (IDR2,308,460) and the 100-hour simple moving average. If there is no significant recovery, selling pressure may continue in the near term.

Challenges and Opportunities for SOL Price Recovery

Despite the selling pressure, Solana has several resistance levels that need to be broken to reverse the bearish trend. Initial resistance is around $140 (IDR2,308,460), with the next level at $144 (IDR2,373,516), which coincides with the 23.6% Fibonacci retracement of the move down from $180 (IDR2,968,020) to $132 (IDR2,177,748).

If the SOL price manages to break the $156 (IDR2,571,084) level, which is the 50% Fibonacci retracement, then this could be an early signal of recovery. Further upside could take the price back to $165 (€2,720,685) or even $180 (€2,968,020). However, pressure from the still volatile crypto market could hamper the recovery.

Also Read: Bitcoin Faces New Price Barriers in the Crypto Market: Volatility and Its Impact on Crypto

Potential for Further Decline if Failure to Rebound

If SOL is unable to break the $148 (IDR2,440,372) resistance, there is a possibility that the price will come under selling pressure again. Initial support is around the $132 (IDR2,177,748) level, followed by major support at $125 (IDR2,061,125).

If the price breaks below $125 (IDR2,061,125), it is likely that the SOL will drop further to the $120 (IDR1,978,680) level. A deeper drop could take the price to the critical support area of $102 (IDR1,681,878), which could trigger a larger sell-off. Therefore, investors should pay attention to these key levels before making any investment decisions.

Conclusion

Solana (SOL) is currently in a significant downward phase after failing to break a key resistance level. Although there is potential for recovery, high selling pressure could hamper the price’s upside attempt. Key resistance levels to watch are at $148 (IDR2,440,372) and $156 (IDR2,571,084), while critical supports are at $132 (IDR2,177,748) and $125 (IDR2,061,125). The volatile movement of the crypto market makes investors need to be more careful in making investment decisions.

Also Read: Cardano Price Movement Pattern Shows Positive Trend, This is Analyst’s Explanation! (5/3/25)

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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 Plunges 13%. Accessed March 5, 2025.
• Featured Image: NewsBTC