Recently, Solana (SOL) crypto assets market has experienced intense price fluctuations. After breaking the key support level of 140 USD on June 20, the price of SOL continued to decline, reaching a low of 123 USD on June 22, with strong bearish momentum catching long investors off guard.
Currently, the market buy orders are trying to turn the situation around, but whether this rebound can be sustained still requires observation of the breakthrough situation at two key price levels.
The future market trend mainly depends on the following two situations:
If the rebound meets resistance and fails: If the SOL coin price cannot break through the level of $140 and the 20-day moving average (about $147), it is very likely that the bears will regain control of the market trend. If the price falls below the support level of $123 again, the next important support level may drop to $110, and the bearish trend may continue further.
If the longer forcefully breaks through: If SOL can continuously break through the resistance level of 147 dollars, it will indicate that low-level buying is starting to enter actively, and market confidence is gradually recovering. In this case, SOL is expected to further rise towards the 50-day moving average (around the 159 dollar area), which will provide an opportunity to reverse the downturn in the short term.
For Solana investors and traders, closely monitoring the breakthroughs of these key price levels is crucial, as they may indicate the market direction for the near future. Whether bullish or bearish, it is important to stay vigilant and adjust strategies at any time to respond to the rapidly changing market environment.
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GateUser-1b62b120
· 06-24 06:08
#Gate Leads Global Growth in Futures Trading Volume##Crypto Market Rebound##Bitcoin Reserve Bill#
Recently, Solana (SOL) crypto assets market has experienced intense price fluctuations. After breaking the key support level of 140 USD on June 20, the price of SOL continued to decline, reaching a low of 123 USD on June 22, with strong bearish momentum catching long investors off guard.
Currently, the market buy orders are trying to turn the situation around, but whether this rebound can be sustained still requires observation of the breakthrough situation at two key price levels.
The future market trend mainly depends on the following two situations:
If the rebound meets resistance and fails:
If the SOL coin price cannot break through the level of $140 and the 20-day moving average (about $147), it is very likely that the bears will regain control of the market trend. If the price falls below the support level of $123 again, the next important support level may drop to $110, and the bearish trend may continue further.
If the longer forcefully breaks through:
If SOL can continuously break through the resistance level of 147 dollars, it will indicate that low-level buying is starting to enter actively, and market confidence is gradually recovering. In this case, SOL is expected to further rise towards the 50-day moving average (around the 159 dollar area), which will provide an opportunity to reverse the downturn in the short term.
For Solana investors and traders, closely monitoring the breakthroughs of these key price levels is crucial, as they may indicate the market direction for the near future. Whether bullish or bearish, it is important to stay vigilant and adjust strategies at any time to respond to the rapidly changing market environment.