- Solana tests key support at $114.73, with $112 as a critical level for confirmation.
- A break below $112 may confirm the completion of wave (2) and signal a decline.
- Solana’s future price movement depends heavily on holding or breaking the $112 level.
Solana is at a critical juncture as it tests the $112 support level. A break below this key level could signal further declines in price. Traders are closely watching to see if the support holds or if Solana continues to fall.
Solana Price Approaches Critical $112 Support Level
Solana’s price is currently facing a crucial test, as it approaches the $112 support level. Recent price action shows that Solana is testing micro support, with traders closely monitoring whether the level will hold.
According to More Crypto Online, if Solana’s price breaks below $112, it could confirm the end of wave (2), signaling a possible continuation of the decline. The current retracement levels suggest that the next few hours will be critical in determining whether Solana can maintain its position or if further downward movement will follow.
Key Price Levels to Watch for Solana’s Next Move
The $112 support level remains a pivotal point for Solana’s price action. Currently, Solana is holding at the 61.80% retracement level at $114.73, but a break below $112 could signal a larger decline. If the price continues to fall, Solana could be entering wave (3), where significant downward movement may occur.
However, if the support level at $112 holds, there could be a potential recovery. Traders are particularly focused on these key levels to decide whether to adjust their positions or wait for confirmation of the next trend.
The behavior around $112 is crucial for Solana’s next move. A break below this level would signal a further downward trend, while a strong rebound could indicate a possible recovery. Solana’s price action over the next few days will provide valuable insights into whether the market is preparing for further losses or a reversal.
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.
