Solana (Sol) -Prei

Solana (Sol) recorded a strong decline and reached its lowest point in four months. In the past 24 hours, Sols has dropped by 5%, which continues a sharp correction, in which 45% has dropped in the past 30 days. The ongoing downward trend has reduced the Solana market capitalization to around 70 billion US dollars, with the baric mood dominating the market.

Ichimoku -clouds and EMA indicators reflect the barical impulse

The Ichimoku clouds and exponential indicators for the moving average (EMA) signal a strong bear trend for Solana. The price is significantly below the Ichimoku cloud, which points out that the downward impulse remains likely. The red cloud made in front of us reflects a bearish atmosphere, with the leading span of being a position under front B. This setup increases the continuing negative trend.

The Tenkan-Sen (blue line) remains below the Kijun-Sen (red line) and continues to emphasize the bear. In addition, the Chikou span (green delay line) is under the price campaign and confirms the general negative mood. Despite a short consolidation period, the price could not get backwards, which increased the bearish prospects. For all signs of a trend reversal, the price over the level of Tenkan-Sen and Kijun-Sen would have to interrupt and move through the cloud.

Whale activity and sales pressure

Whale activity has played an important role in the downward trend of the market. In the last 30 days, the number of Solana whales (addresses that have at least 10,000 SOL) has decreased steadily. By February 16, the number of whales had dropped to 5.017, the lowest level since December 2024, which points out that large owners sold their positions. This reduction in whale stocks has contributed to increased sales pressure and a continuation of the negative trend.

The number of Solana whales has recently shown some signs of recovery that have reached 5.067, but remains lower than in the previous months. This shows cautiously, but it was not enough to reverse the bear trend, which was highlighted by the Ichimoku clouds and EMA indicators.

Watch price levels

Solana's EMA lines indicate a very bearical setup, with short-term EMAs being positioned between them under long-term and a significant gap between them. This indicates a strong downwards and dominance of the sale of the pressure. If the downward trend is continued, Sol can test the support for $ 133. If this level does not apply, Solana's price could decrease to $ 120 or even 110 US dollars, its lowest point since August 2024.

If the trend is the other way around, the Solana price could have the first test resistance at 152 US dollars. If it succeeds in breaking this level, the next destinations are 171 and $ 180. In addition, the Solana floating of 1.9 billion US dollars planned for the 1st March could have significant effects on the price, which either tightens the current downward trend or is operated.

Diploma

The continued decline of Solana underlines a challenging period for the tokens of the blockchain, whereby bear indicators and sales pressure dominate the market. While careful accumulators offer hope through whales, the overall outlook remains negative. If the current trend remains, Sol can continue to stand down, with the most important support levels of $ 133, $ 120 and $ 110. However, a potential reversal could lead to recovery, whereby the level of resistance of $ 152, $ 171 and $ 180 offers potential goals for dealers. The upcoming Solana Unlock will be an important event in the coming days that you can see.

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