- SOL price hinges on $235 support in the blue scenario for wave 4 to bottom this week.
- White scenario suggests deeper correction to $229 and $223 if $235 fails.
- Key support levels to watch amid ongoing market volatility.
As the cryptocurrency market continues its volatile dance, Solana (SOL) is navigating a significant correction phase, drawing the attention of traders and investors alike. According to a recent analysis from MoreCryptoOnline on X, the SOL price is currently working through this downturn, with critical levels to watch in the coming days. The analysis outlines two potential scenarios: a blue scenario where the $235 level holds, and a white scenario where the correction could deepen.
In the blue scenario, maintaining the $235 support offers a chance for wave 4 to bottom out this week, potentially stabilizing the price. This level is seen as a pivotal point, with a hold above it suggesting resilience in the market. However, if the price slips below $235, the white scenario comes into play, where wave 4 could extend further, testing lower support zones at $229 and $223. These levels are crucial for traders to monitor as they could dictate the short-term trajectory of SOL.
The chart accompanying the analysis highlights a technical breakdown, with horizontal lines marking the $235, $229, and $223 support zones. The price action appears to be consolidating within these ranges, a common pattern during corrections. For seasoned investors, this presents an opportunity to assess risk versus reward, particularly if SOL holds above $235, signaling a potential rebound.
As of 07:55 PM +04 on September 20, 2025, the market remains cautious yet optimistic. The broader crypto landscape will also influence SOL’s movement, but these identified support levels provide a roadmap for the week ahead. Traders are advised to watch volume and broader market trends to confirm any breakout or breakdown.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
