Witnessing a huge collapse in the last 24 hours, Sol tested a four-month low and traded back in the bearish zone. However, it has seen a slight rejection and now sits at support while deciding on the next move. Two weeks ago, Sol managed to resume a buy following the early month recovery that brought relief across the crypto space. The price increased for a few days but later lost buzz $210 level due to multiple rejections. That led to a breakdown last week and the price fell to $162. A rejection there brought a calm and the price consolidated for the rest of the week. Following a sudden crash yesterday – being the first day of a new week – Sol lost a crucial support level and plummeted to the October 2024 low after posting a huge loss. This marks an over 50% decrease in seven weeks. It has rejected the low but there’s no assurance if it will hold. Advancing bearish, it may face a lot of support. Breaking October’s support could cause more dips to September and August’s low before deciding the next direction. Right now, the bulls are off the market. If they show up, we may see a small increase in the form of a retracement before resuming the dip. As it stands, the bears are fully in control daily. SOL’s Key Level To Watch Source: Tradingview The $133 daily low is still providing support. If Sol dips below it, the next support level to watch for a test would be $120, followed by $110. In case of a retracement, the closest resistance level for a test is $147. Above it lies $155 and $165. Higher resistance levels to keep in mind are $187.5 and $209. Key Resistance Levels: $147, $155, $165 Key Support Levels: $133, $120, $110 Spot Price: $136.9 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: valedol / 123RF // Image Effects by Colorcinch
