Nobody Expected This: Solana (SOL) Breaks Key Support, Next Downside Target Lies at $106
Solana’s sudden breakdown below key support has caught investors off guard, shaking confidence in what was once a bullish setup. With the next downside target now looming at $106—and even $74 on the radar—traders are reassessing their strategies. As the broader market stumbles, all eyes are on whether Solana can stabilize or if deeper losses are on the horizon.
This breakdown analysis is brought to you by Outset PR—crypto’s precision-focused PR agency that helps projects weather volatility with timely storytelling, strategic placement, and analytics-driven media outreach.
Solana Struggles to Maintain Momentum Amid Tumbling Crypto Market
Source: tradingview
Solana (SOL) has been hovering between $119 and $152, showing signs of weakness. The price has fallen recently by over 12% in a week, and more than 23% over the past month. The current neutral RSI suggests a lack of strong momentum either way. Bulls could face challenges as the price needs to break the nearest resistance point at $171 for growth.
If successful, SOL could reach $204, potentially increasing its value by a third. Yet, breaching support levels might see SOL slide lower to $106 or even $74. Maintaining above the 10-day moving average near $134 is crucial for any short-term recovery.
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Conclusion
Solana’s failure to hold key support underscores the fragility of current market conditions. With a potential target as low as $106, traders must stay alert for signs of a bottom—or further decline. Still, a recovery above the $134 short-term average could offer bulls a lifeline.
In unpredictable cycles like these, visibility and timing are everything. Outset PR empowers crypto projects to stay relevant even in downturns—crafting narratives that respond to market context and resonate with target audiences. Whether you’re climbing or consolidating, Outset PR ensures your story stands firm.
You can find more information about Outset PR here:
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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
