{"id":375710,"date":"2025-02-26T22:15:57","date_gmt":"2025-02-26T16:45:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/will-the-130-support-hold-or-collapse-crypto-news\/"},"modified":"2025-02-26T22:19:54","modified_gmt":"2025-02-26T16:49:54","slug":"will-the-130-support-hold-or-collapse-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-the-130-support-hold-or-collapse-crypto-news\/","title":{"rendered":"Will the $130 Support Hold or Collapse? – Crypto News"},"content":{"rendered":"

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Solana price is struggling to recover as it remains trapped in a steep bearish channel. The cryptocurrency recently fell below $160, marking its lowest level since November 2024. Market sentiment remains negative, limiting any upward movement. SOL is currently testing key support near $130, raising concerns about a potential breakdown. If selling pressure continues, Solana may face further declines in the coming sessions.<\/span><\/p>\n

Solana Price Faces Key Test as $130 Support Threatens Breakdown<\/strong><\/h2>\n

Crypto analyst Ali has identified a possible bearish setup in the Solana price chart. According to his analysis, SOL appears to form a right-angled ascending broadening pattern, a technical structure that could signal heightened volatility.<\/span><\/p>\n

An ascending resistance line and a horizontal support level characterize this pattern. It suggests that price swings are becoming more unpredictable, with a widening gap between highs and lows. Such formations often indicate uncertainty, leading to potential breakouts in either direction.<\/span><\/p>\n

Ali highlights $130 as a critical support level for SOL. If the price falls below this mark, it could trigger a sharp decline, possibly reaching $65. This would represent a significant drop from current levels, potentially impacting market sentiment.<\/span><\/p>\n

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Solana Price Drops as Network Activity Declines<\/strong><\/h2>\n

Solana price remains under pressure as on-chain data reveals a sharp drop in network activity. The total transfer volume of SOL has plunged from $1.99 billion in November 2024 to just $14.57 million. This marks a significant decline in transactions, reflecting reduced usage and liquidity within the ecosystem.<\/span><\/p>\n

On-chain metrics from Glassnode highlight a persistent downward trend in Solana\u2019s transfer activity. The sharp fall in volume coincides with fluctuations in SOL\u2019s market price, which currently trades at $103.07. The declining transaction value raises concerns over Solana\u2019s network demand and overall market sentiment.<\/span><\/p>\n

SOL Price Decline Continues Amid Bearish Momentum<\/strong><\/h2>\n

\u00a0The <\/span>SOL price <\/span><\/a>continues to decline as selling pressure intensifies. The 4-hour chart shows a downward trajectory, with SOL trading at $138, marking a 1% drop. The recent price action suggests increased bearish momentum, with resistance at $160 and support at $130.<\/span><\/p>\n

The Relative Strength Index (RSI) stands at 30, hovering near the oversold zone. The Moving Average Convergence Divergence (MACD) indicator displays a bearish crossover.\u00a0 The MACD line remains below the signal line, signaling negative momentum.\u00a0<\/span><\/p>\n

A descending channel pattern formed during the recent downturn, reflecting controlled selling activity. The price briefly stabilized but struggles to sustain an upward movement. If the <\/span>Solana price prediction<\/span><\/a> fails to reclaim the $160 resistance level, further declines toward $130 could occur.<\/span><\/p>\n

\"Solana