Sol sells, where traders target $ 124 star-news.press/wp

Main meals:

• The 5 % Sol career has been reflected by ETF to $ 160 in 24 hours, offering a continuous technical weakness on the lower and higher time frames.

• Sol is trading near the key of $ 144.5 – $ 147.7, a supply set. A decrease to $ 124 can lead to $ 124 or even $ 95 – $ 100, as support is separated.

Sol (Sol) gathered by 5 % to $ 160 on Monday after news of the first trading box on the Stock Exchange (ETF) that was broadcast for trading on Wednesday. However, the momentum was short -term as altcoin wiped out all gains within 24 hours, and the price twice the price can be seen on multiple time frames.

In the minimum time frame, Sol failed to maintain a position above the average of the average of 50 -day and 200 days (EMAS) for more than a month. Despite the many buds of the structure, including pop music last week over $ 148, Altcoin did not convert it into sustainable trips.

The current level of $ 148 consists of pressure, and it will confirm a lower decrease in a minimum decrease, which denies the opportunity to continue the upward in the short term. In order to regain the ups of the bullish momentum, a successful re -test from the demand area remains from 145 to 137 dollars, followed by recovery over $ 160, axis.

Within the highest time (HTF), the broader trend remains landmark. In May, Sol failed to violate the main resistance at $ 180, and has since went down inside a convergence channel.

While such patterns can lead to escape escape, Sol remained very sensitive to the weakness of Bitcoin over the past month. While Bitcoin (BTC) is near its highest levels ever, Crypto origins have decreased almost 50 % since January 19, reflecting the proportional missing performance.

If the declining direction continues, then re -testing the daily demand block ranges between $ 120 and $ 95 is still realistic, providing a more attractive long entry point. However, a strong daily closure over $ 160 in the coming weeks can turn feelings, speed up a bullish reflection, and carry a short -term momentum in the upper timeline.

Related: Analysts raise the chance of Sol, XRP and LTC ETF to 95 %

Sol UTXO achieved price levels

Sol is trading about $ 148 on Tuesday, with the distribution of the price achieved for UTXO (URPD), a metric that tracks the price levels obtained from the symbols, providing cash visions in the support and resistance areas. The current price is within the 14.3 % supply group at $ 144.5 to $ 147.7, indicating a strong holder’s concentration. This pivotal level, as a range that can maintain the current price if the pressure continues.

Data from Glassnode indicates that maintaining more than $ 144 is very important. The violation below indicates this threshold to possible, which increases the possibility of re -testing the low support areas.

The 100 dollar to $ 97 has 3 % of the offer, while it supports $ 1.58 %, and offers temporary stores limited. If the price fails to get more than $ 144, the market risks a deeper drop towards these levels, as insomnia supply can lead to amplification of fluctuations.

Resistance appears at $ 157, with 5.55 % of the offer, which is a challenge to upward momentum. Currently, the dense group of $ 144.5 to $ 147.7 confirms on a strong base, where investors must defend the Sol price.

Related: Sol Price Rallies to $ 161 after ETF news, but is the collector sustainable?

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.