bullish

Solana

Value

DeFi

when

<ul>
 <li>Solana struggles below $138 resistance, raising fears of a major price retracement.</li>
 <li>Failure to break key levels could lead to declines down to $90 or $60.</li>
 <li>Despite risks, Solana’s increasing Total Value Locked and new DeFi projects show potential.</li>
</ul>
<p><a href="https://cryptonewsland.com/solana-price-faces-downtrend-amid-low-trading-volume-and-bearish-signals/" target="_blank" rel="noopener noreferrer nofollow">Solana (SOL)</a> is at a critical crossroads and is showing signs of price instability. Recently, SOL struggled to break through the $138 resistance level. This failure has sparked concerns that Solana might be headed for a major retracement. Investors are watching closely, as significant losses could be on the horizon if the trend continues.</p>
<h2 class="wp-block-heading" id="h-solana-s-struggles-a-critical-moment-in-the-market">Solana’s Struggles: A Critical Moment in the Market</h2>
<p>Solana (SOL) has gained a reputation for its fast transactions and low fees. Yet, recent technical analysis suggests its bullish momentum might be waning. The price has consistently failed to surpass $138, raising alarms among traders.&nbsp;</p>
<p>Analysts are particularly worried about the formation of a “death cross.” This pattern occurs when the 50-day exponential moving average (EMA) crosses below the 200-day EMA. The <a href="https://cryptonewsland.com/solana-falls-14-future-outlook/" target="_blank" rel="noopener noreferrer nofollow">death cross chart pattern</a> often signals a prolonged downtrend.</p>
<p>If this bearish pattern materializes, Solana could face further declines. Traders are focusing on key support levels, fearing a drop to $90 or even $60. Such a decline could erase many gains from Solana’s previous bull run. This will lead to significant losses for investors.</p>
<h2 class="wp-block-heading" id="h-short-term-risks-vs-long-term-prospects">Short-Term Risks vs. Long-Term Prospects</h2>
<p>Despite these immediate risks, there are some positive signs. <a href="https://defillama.com/chain/Solana" target="_blank" rel="noopener noreferrer nofollow">Solana’s Total Value Locked</a> (TVL) is increasing, showing that the network remains attractive. The emergence of new DeFi projects and liquid staking tokens suggests ongoing expansion. These factors could provide a positive outlook in the long run.</p>
<p>However, short-term risks are substantial. If <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">SOL</a> breaks the support levels at $120 and $115, we can expect a price fall to the 61.8% Fibonacci retracement level at $90 or even $60. As Solana faces this turbulent phase, investors must stay alert. The current market conditions suggest that a significant price retracement could be near.</p>
<p>The post <a href="https://cryptonewsland.com/sol-fragile-a-retracement-coming/" rel="noopener noreferrer nofollow">Solana (SOL) Price Fragile, A Major Retracement Coming?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Solana (SOL) Price Fragile, A Major Retracement Coming?

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