Published: Mar 16, 2025 at 02:20 PM
Updated: Mar 16, 2025 at 02:17 PM
- Solana shows bullish divergences across multiple timeframes, signaling weakening selling pressure.
- The $160-$200 range is a key reassessment zone for Solana’s next price action.
- A relief rally may emerge if market stability and support levels hold.
Solana displays signs of a potential bottom, with bullish divergences forming across multiple timeframes. The price range of $160 to $200 is now a key area for reassessment. A relief rally in the form of a B wave could emerge if these signals hold.
Technical indicators reveal that Solana has published bullish divergences on various occasions. These prints occur when price movement moves downward while momentum indicators, such as the Relative Strength Index (RSI), show an upward direction. This divergence often signals weakening selling pressure and the prospect of a price reversal.
According to an analysis by XForceGlobal, a wave (C) retracement targets between the 50% and 61.8% Fibonacci levels. The projected expansion phase indicates a possible long-term price surge. The correction zone appears between $40 and $90 before the trend reversal. The Fibonacci extension suggests a bullish continuation if support holds.
Market conditions suggest that Solana could experience a relief rally in the short term. The strength of this movement will depend on whether key support levels hold and if market participants respond to the emerging signals.
The $160 to $200 price range has emerged as an area of interest for traders assessing Solana’s next move. If price action enters this zone, market participants may reassess positioning and momentum. A sustained break above this range could indicate further upside, while rejection at resistance levels could shift sentiment.
Solana’s recent price performance mirrors broader market movements. Increased volatility across digital assets has influenced the token’s activity, with buyers and sellers reacting to macroeconomic aspects and liquidity changes. The probable relief rally will depend on market stability and bullish divergences.
Tracking the current market movement, its notable that SOL price structure is forming a base. In addition to that, bullih divergences are seen biting a possible surge combined with the price action. If the current traction continues, Solana could try to form higher support levels before another consistent move.
Cryptonewsland – Your Daily Crypto News – Read More