{"id":3620,"date":"2025-03-13T19:13:07","date_gmt":"2025-03-13T19:13:07","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/solana-sol-retests-crucial-support-level-is-a-50-price-drop-on-the-horizon\/"},"modified":"2025-03-13T19:13:07","modified_gmt":"2025-03-13T19:13:07","slug":"solana-sol-retests-crucial-support-level-is-a-50-price-drop-on-the-horizon","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/solana-sol-retests-crucial-support-level-is-a-50-price-drop-on-the-horizon\/","title":{"rendered":"Solana (SOL) Retests Crucial Support Level \u2013 Is A 50% Price Drop On The Horizon?"},"content":{"rendered":"

Solana (SOL) has seen a nearly 40% retrace over the past month, losing key support levels since February. As its price retests a key horizontal level, some analysts warn of a potential 50% correction to a yearly low.<\/p>\n

Solana Loses Key Support Level<\/h2>\n

Solana has been one of the leading cryptocurrencies of the cycle, fueled by the market\u2019s memecoin frenzy. The altcoin climbed over 270% in a year to its latest all-time high (ATH) of $270, registered nearly two months ago.<\/p>\n

Nonetheless, SOL\u2019s bullish sentiment has significantly decreased since January, recently plummeting to its lowest point in over a year. As a result, the cryptocurrency has dropped over 50% from its January 19 ATH.<\/p>\n

Solana lost the key $200-$220 support zone at the start of last month, with the February market crashes sending SOL to retest its next crucial levels. After losing the $180 mark two weeks ago, its price hovered between the $130-$150 range, surging to the $179 mark at the start of March.<\/p>\n

This week\u2019s market correction, which saw Bitcoin (BTC) drop to $76,000 for the first time in four months, has sent Solana to new monthly lows.<\/p>\n

On Tuesday, SOL\u2019s price briefly dropped to $111, a level not seen since the August 2024 market crash, before bouncing back to $125. Amid the ongoing retest, pseudonym trader Crypto Busy warned<\/a> that SOL must \u201chold this crucial support to maintain a bullish sentiment above $100.\u201d<\/p>\n

Crypto analyst Ali Martinez previously noted<\/a> that the most crucial zone for Solana appears to be between $110 and $125, as this horizontal level served as a key support during its 2021 and 2024 rallies. The analyst suggested that \u201cholding above this range could be key for the next move.\u201d<\/p>\n

SOL Price Risks Move To $60<\/h2>\n

Martinez also pointed out that Solana could be on the verge of a breakdown, as it has broken below its key level. According to the post<\/a>, SOL risks a 50% crash to the $60 mark if it fails to hold the $125 support zone.<\/p>\n

The analyst highlighted that the cryptocurrency has been forming a right angle ascending broadening pattern since March 2024, when it first reclaimed the level during this cycle.<\/p>\n

During this period, every higher high on Solana\u2019s chart has created a rising trendline at the top of the pattern, while the $125 support has held \u201cas a strong horizontal support trendline.\u201d<\/p>\n

However, SOL\u2019s break below this horizontal zone has increased the odds of a 50% price correction to the Q4 2023 levels. Additionally, Martinez recently warned of a potential correction based on Solana\u2019s trading pair against Bitcoin, which started to resemble ETH\/BTC\u2019s chart.<\/p>\n

The analyst suggested that the SOL\/BTC chart was looking like Ethereum\u2019s trading pair against BTC\u2019s past price action, adding that if it continued to follow this pattern, the SOL\/BTC chart could see a drop to the 0.0008 region. After the recent price action, the trading pair hit a 15-month low of 0.0014624 on Tuesday.<\/p>\n

As of this writing, Solana trades at $124, a 14% decline in the weekly timeframe.<\/p>\n

\"Solana,<\/p>\n","protected":false},"excerpt":{"rendered":"

Solana (SOL) has seen a nearly 40% retrace over the past month, losing key support levels since February. As its price retests a key horizontal level, some analysts warn of a potential 50% correction to a yearly low. Solana Loses Key Support Level Solana has been one of the leading cryptocurrencies of the cycle, fueled…<\/p>\n","protected":false},"author":1,"featured_media":3621,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[1437,713,1982,725,762,281,33,916,200,1853,82,1983,214],"class_list":["post-3620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market-news","tag-crypto-anlayst","tag-crypto-bull-run-2025","tag-crypto-invest","tag-crypto-market-correction","tag-crypto-market-sentiment","tag-crypto-trader","tag-cryptocurrency-market-news","tag-memecoin-frenzy","tag-sol","tag-sol-btc","tag-solana","tag-solana-breakdown","tag-solusdt"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/3620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=3620"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/3620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/3621"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=3620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=3620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=3620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}