- Solana’s price is testing $139, a critical support level that’s seen more drama than a soap opera.
- A breach below $139 could signal deeper corrections, while holding could lead to growth—like a plant that refuses to die.
As I sit here, fingers poised over the keyboard, Solana [SOL] is once again flirting with the critical price point of $139. This number has been a pivotal player in the past, much like that one friend who always shows up at the worst times. Back in 2022, Solana danced around this threshold for five months before it decided to take a nosedive.
And what a nosedive it was! It was like watching a toddler on a tricycle careen down a hill—chaotic and utterly predictable. The downtrend only reversed in October 2023, which is like saying the toddler finally learned to brake.
Now, as Solana revisits this key level, analysts are glued to their screens, wondering if it can maintain support above $139 or if we’re in for a repeat performance of the downward spiral. It’s like watching a rerun of a bad movie—do we really want to see how it ends?
If Solana can’t hold above this level, we might be looking at further corrections. But if it manages to hold on, we could be in for a growth spurt—like a teenager who suddenly discovers protein shakes.
SOL at $139: A make-or-break level
Ah, $139. More than just a psychological barrier, it’s a defining level for trend shifts. In 2022, SOL hovered near this mark for five months, struggling to maintain stability before it broke down like a car with no gas.
According to Glassnode data, sustained dips below this threshold have previously triggered extended bearish periods. It’s like a bad breakup—once you hit rock bottom, it takes a while to bounce back. But if SOL can hold above $139, it might just be the foundation for a comeback tour.
What happens if SOL falls below $139 again?
If SOL breaches $139, historical patterns suggest we’re in for a wild ride downwards. In 2022, the breakdown below this level resulted in a deep correction that lasted nearly a year—like a bad hangover that just won’t quit.
The realized price indicator shows that movements below $139 often coincide with prolonged consolidation or lower re-accumulation ranges. If SOL breaks below $139 again, we might see key downside targets around $100 and $125—levels where prior buying activity resurfaced in late 2023. It’s like trying to find your way back to the buffet after a long night out.
A sustained drop below $139 could also shake investor confidence, potentially triggering cascading liquidations. For Solana to avoid repeating the 2022 downtrend, bulls must step in aggressively at this critical support level. No pressure, right?
Can SOL stabilize, or will it tumble again?
As of now, Solana has already slipped below $139, trading at $131.54. This raises concerns about further downside, like a cat on a hot tin roof. Technical indicators suggest weakness: the RSI was at 24.98, deep in the oversold zone. It’s like being stuck in a traffic jam with no snacks.
While this hints at potential short-term relief, it also signals extreme bearish pressure. Additionally, the 50-day and 200-day SMAs at $201.55 and $183.94 show that SOL is trading far below key trend indicators, reinforcing the long-term bearish outlook. It’s like trying to climb a mountain with flip-flops.
A failure to reclaim $139 soon could open the door for further declines, with $125 and $100 as possible next support levels. However, if buying volume picks up at these levels, SOL could attempt a rebound. For now, sentiment remains fragile, and bulls face an uphill battle—like trying to convince your cat to take a bath.
Read More
- USD VES PREDICTION
- How to watch A Complete Unknown – is it streaming?
- LDO PREDICTION. LDO cryptocurrency
- INJ PREDICTION. INJ cryptocurrency
- USD MXN PREDICTION
- COW PREDICTION. COW cryptocurrency
- EUR HUF PREDICTION
- FIL PREDICTION. FIL cryptocurrency
- RLC PREDICTION. RLC cryptocurrency
- OM PREDICTION. OM cryptocurrency
2025-03-01 02:18