$SOL has been one of the most discussed cryptocurrencies, but things are looking shaky right now. After failing to hold the crucial $180 support level, SOL has dipped into a bearish zone. 📉


🔍 Price Breakdown & Support Level:

SOL had been gaining support at $180 since November 2024, but it's now breached that level and closed below it, signaling potential further downside. If the bearish trend continues, SOL could see a drop of up to 15%, reaching the $155 mark. 🧐


💸 Investor Behavior:

While the price action is concerning, there's still some optimism in the market. Data shows a significant $115 million outflow of SOL, suggesting that long-term holders are accumulating more. This could set the stage for potential buying pressure and a price rebound in the future. 🔄


📈 Long vs. Short:

Despite the price decline, traders are still making their bets. There’s $45 million in long positions on SOL, which means there’s strong belief in a bounce back at the $174.3 support level. On the flip side, short sellers seem to be running out of steam, with only $15.5 million worth of short positions remaining at $180. This could give bulls a chance to reclaim lost ground. 💪


⚖️ What’s Next?

SOL is currently hovering around $177, with a 6% drop in the last 24 hours. Trading volume has surged by 110%, showing that traders are actively adjusting their positions in response to this price movement. 🔄


Keep your eyes peeled on the $155 and $174 levels — the coming days will be crucial for SOL! 🔮

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February 18, 2025 at 1:25 PM
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