Will Solana hold above $180? Assessing key price movements

• Solana’s buying and selling quantity dipped sharply within the final seven days. 
• A key technical indicator hinted at a worth drop quickly.

Solana [SOL] has witnessed a slight correction within the final 24 hours, like a number of different cryptos. Nevertheless, a latest evaluation revealed that it’s essential for the token to hover inside a selected vary to be able to maintain its worth.

Will SOL find a way to take action, or the ending of 2024 would possibly witness SOL shedding market capitalization? 

Solana’s essential degree!

After a virtually 5% weekly worth hike, the token’s worth dropped within the final 24 hours. On the time of writing, SOL was buying and selling at $193 with a market capitalization of over $92 billion.

Ali Martinez, a preferred crypto analyst, posted a tweet revealing an fascinating growth. Martinez talked about that it’s essential for the token to maintain its worth with the $190-$180 vary.

In case of a plummet underneath that degree, the token would possibly witness an extra worth down, which may push many traders in loss.

AMBCrypto then checked Solana’s on-chain information to search out out whether or not SOL falling underneath this vary is feasible within the near-term. 

What’s occurring with SOL?

As per our evaluation of Santiment’s information, SOL’s worth would possibly proceed to drop as its buying and selling quantity declined during the last week. A drop within the metric hints at a continued bearish development.

Nonetheless, Solana’s Social Quantity remained excessive, which mirrored the token’s reputation within the crypto market. 

Supply: Santiment

Regardless of the declining quantity, SOL’s Long/Short Ratio registered an uptick. This meant that there have been extra lengthy positions available in the market than brief ones, which will be thought of a bullish replace.

AMBCrypto’s evaluation of Hyblock Capital’s information revealed one more bullish metric, which recommended that Solana would possibly now go underneath the vital buying and selling vary.

The token’s purchase quantity touched 86 on the twenty ninth of December. A price nearer to 100 signifies that purchasing stress is excessive, which has a constructive affect on an asset’s worth. 

Supply: Hyblock Capital

The truth that shopping for stress on Solana was rising was additional confirmed by a technical indicator. The token’s Relative Energy Index (RSI) registered a slight uptick, suggesting a hike in shopping for exercise.

Nevertheless, the Chaikin Cash Circulation (CMF) dipped within the latest previous — a sign of a decline in shopping for exercise. 

Learn Solana’s [SOL] Value Prediction 2025–2026

Whether or not this may trigger Solana’s worth to drop underneath $180 within the coming days, is a query solely time to reply. 

Supply: TradingView