SOL Bulls Need To Hold $180 To Protect The Uptrend

Main points:

• Sol decreased by 9.5 %, with $ 30 million in the long qualifiers.

• The decreased difference in future cardiovascular diseases and high financing rates indicates that the long pressure has led to a correction.

• Support at a price of $ 180 and a modern hint of golden anxiety until the upcoming continuation is still playing.

Solana (SOL) fell 9.5 % on Wednesday, as it fell to $ 186 from $ 205, which may constitute a decreased cheating pattern on the daily chart. It will happen nearly $ 190 to the most important daily decline since March 3, when Sol decreased more than 20 %.

Sol Futures faced sharp correction as $ 30 million was filtered in long positions, after that Open attention (OI) reaches its highest level at $ 12 billion. Although the price that is still sitting at 36 % is less than its highest level ever, the high OI indicates that traders may respond to long positions and book profits.

Several of the main onchain indicators alluded to the correction. The size of the pure council turned to its sale, which indicates that more aggressive deals have been implemented on the sale side. This shift has been supported by a decrease in the cumulative cumulative size in the cumulative size (CVD), which tracks whether buyers or sellers are more active, indicating that holders are achieving profits near the level of $ 200.

Interestingly, the complex future CVD has decreased steadily even with the high prices, indicating that the two vacant sellers gradually increased from their locations, a declining difference that precedes the decrease.

In addition, the financing rates have reached the highest point in the past quarter, noting a crowded long trade. He created high financing and OI levels the ideal preparation for long pressure, forcing excessive traders on the predecessor

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Is this a decline to buy?

While the sudden decrease by 9 % in Sol may cause short -term fears, it follows a significant increase of 56 % over the past thirty days. This withdrawal is often a healthy reset, especially after aggressive bullish momentum. Technically, the daily chart remains a construction, with $ 180 eggs as major support for the upscale continuation.

Sol confirmed an emerging break of the BOS (BOS) earlier this week by restoring the level of $ 180, which represents the first shift in the main bullish direction in the time frame for one day since November 2024. This BOS also sparked a golden cross between 50 days and 200 days of SIS (EMAS), a classic parliamentary signal. The last time Sol saw this intersection, the price rose more than 730 % between October 2023 and March 2024.

A positive reaction to the prices and support retains about $ 180 that will enhance the upscale momentum. However, failure to defend this level can open the door to get a deeper correction towards the 168 – 157 dollar area. This range is in line with both daily fair value gap, an imbalance area in the previous market, and RERECTING levels 0.5-0.618 Fibonacci, often considered a high -use technology area.

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This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.