SOL Faces Critical Support Near $144 Amid ETF Rally Reversal, Potential for Further Correction
The post SOL Faces Critical Support Near $144 Amid ETF Rally Reversal, Potential for Further Correction appeared on BitcoinEthereumNews.com.
SOL’s recent ETF-driven surge highlights critical supply zones that will determine its short-term trajectory amid ongoing market volatility. Despite a swift reversal from $160, SOL’s price action near the $144 supply cluster signals a pivotal battleground for bulls and bears alike. According to COINOTAG analysis, maintaining support above $144 is essential to prevent a significant correction toward lower support levels. SOL’s ETF rally reversal underscores the importance of the $144 supply cluster as a key support level to avoid deeper corrections in the crypto market. ‘, ‘ 🚀 Advanced Trading Tools Await You!Maximize your potential. Join now and start trading! ‘, ‘ 📈 Professional Trading PlatformLeverage advanced tools and a wide range of coins to boost your investments. Sign up now! ‘ ]; var adplace = document.getElementById(“ads-bitget”); if (adplace) { var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”)); var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex; adplace.innerHTML = adscodesBitget[adsindex]; sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1; sessionStorage.setItem(“adsindexBitget”, sessperindex); } })(); ETF-Induced Rally and Technical Weakness Highlight SOL’s Critical Price Zones SOL’s brief 5% rally to $160, sparked by the launch of its first exchange-traded fund (ETF), was quickly reversed within a day, exposing underlying technical vulnerabilities. The altcoin’s inability to sustain momentum above the 50-day and 200-day exponential moving averages (EMAs) over the past month reflects persistent bearish pressure. The $144.5 to $147.7 supply cluster, where over 14% of tokens are held, is now a decisive zone. Holding this level is crucial to prevent a deeper sell-off that could push prices toward $124 or even $95–$100, where liquidity thins significantly. Technical Indicators and Market Sentiment Point to a Challenging Outlook On lower time frames, SOL has repeatedly failed to establish a sustained uptrend despite multiple bullish attempts, including a recent breakout above $148. The failure to…
Filed under: News - @ July 2, 2025 1:23 am