The post Solana Faces Strong Bearish Sentiment Amid Predictions of a Potential Dip to $65 appeared on BitcoinEthereumNews.com.

Solana faces significant downward pressure as analysts predict a potential dip to a 14-month low of $65 amidst ongoing bearish sentiments. The SOL token has notably declined nearly 38.74% over the past month, prompting discussions on its future within the cryptocurrency market. Popular crypto analyst Ali Martinez emphasized that a breach of the $130 support level could lead to a sharp decline in SOL’s price. Solana’s recent price decline raises concerns among investors, with predictions of a potential drop to $65, as market conditions remain bearish. Market Sentiment Analyzes Potential Decline of Solana to $65 Solana’s current market conditions reflect a profound bearish trend, as indicated by the analysis of prominent market experts. The crypto asset, having shown consistent losing streaks, is subject to heightened volatility. The analysis from Ali Martinez highlighted a pattern signaling possible further losses. According to Martinez, Solana is forming a right-angled ascending broadening pattern, which is typically characterized by higher highs accompanied by a horizontal support. Such patterns generally precede pronounced price movements. If Solana were to break below this pattern, it could catalyze a significant price decline. Source: X Martinez noted that should Solana’s price dip below the critical support level of $130, it could result in SOL plummeting to $65—a low not seen since December 2024. This assessment has raised alarms among investors and traders who are closely monitoring market dynamics. Further Downward Pressure on Solana: Key Indicators Evaluating the technical indicators, COINOTAG’s analysis confirms that Solana is presently entrenched in a bearish environment. The prevailing market conditions appear to set the stage for additional losses, with significant implications for SOL’s price trajectory. Source: TradingView Further analysis shows that the Relative Strength Index (RSI) for Solana has plummeted to an oversold zone at 26. This significant decline in the RSI serves as an…

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Filed under: News - @ February 26, 2025 8:23 pm