Solana (SOL/USD) Drops Below Key Support – More Downside Ahead?

Solana (SOL/USD) Analysis – February 26, 2025

🔻 Bearish Pressure Increases as SOL Breaks Key Levels
Solana continues to face strong bearish momentum after breaking below the pivot line at 146.35, now acting as a resistance level. The price is currently testing the monthly support line near 121.08, a critical level that has historically provided strong buying pressure.

📉 Technical Outlook

🔻 Bearish Scenario:
If SOL maintains its position below 146.35, the downtrend is expected to extend toward 121.08 as the next key support level.
A daily close below 121.08 could accelerate the decline toward 100.94, followed by a potential drop to 74.98, a long-term support zone.

📈 Bullish Recovery:
For any bullish reversal, SOL must reclaim 146.35 and stabilize above it, potentially triggering a correction toward 157.03 and 169.38 (previous resistance zones).
A breakout above 169.38 could open the door for a recovery toward 192.72 and 202.51.

⚠️ Market Impact:
Recent bearish momentum aligns with broader crypto market sell-offs, with investors reacting to macroeconomic factors such as rising interest rates and risk-off sentiment.
If the market remains risk-averse, SOL could continue its decline toward deeper support levels.

📊 Key Levels to Watch
🔸 Resistance: 146.35 | 157.03 | 169.38
🔹 Pivot Line: 141.30
🔻 Support: 121.08 | 100.94 | 74.98

📉 Directional Bias: Bearish below 146.35 – Breakdown below 121.08 could accelerate downside momentum.