Solana Price Analysis: Market Rejects Key Resistance – Can SOL Drop to $100?
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Solana's price is experiencing significant downward pressure after failing to break key resistance levels. The cryptocurrency has dropped from $138 to $131, with trading volumes increasing to $3.4 billion. Market sentiment remains bearish, influenced by potential trade policy impacts and reduced transaction volumes in meme coins and DeFi applications.
March 28, 2025 | 2:45 pm
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SOL is experiencing technical rejection at the 50% Fibonacci level, with momentum indicators suggesting potential further decline. Market sentiment and macroeconomic factors contribute to bearish outlook.
Multiple factors suggest SOL is likely to experience price decline: 1) Failed breakout above key resistance, 2) Declining momentum indicators, 3) Bearish market sentiment, 4) Potential macroeconomic headwinds
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100