Solana (Sol)
Handling at $ 128.82, down 8.33% over the last 24 hours, following a steep intraday correction linked to rising geopolitical tensions. The token dropped from $ 140.39 to $ 127.25, with the sharpest times down that occurs 13:00, as Sell Pressure Spiked and Trading Volume exceeded 4 million, according to Coindesk Research’s technical analysis model.
The market reaction followed confirmed reports of US military strikes aimed at Iranian nuclear sites, triggering widespread risk aversion across crypto markets.
Some dealers now worry that a closure of the hormuz strait, although temporary, could send oil prices rising. It would probably stoke inflation, reduce the odds of short-term cuts, and extend the risk-off environment that damages crypto markets. A direct attack on the waterway could intensify sales in Altcoins as Bitcoin dominance historically increases during periods of geopolitical turmoil.
Sun’s decline also marked a break below the main technical levels, including the 200-day simple sliding average near $ 149.54. Throughout the session printed sun lower heights and struggled to maintain rebounds and pointed to the weakening of the market structure. With elevated volume of red candles and technical indicators blinking Bearish, dealers now see $ 120- $ 125 zone as a potential support area.
Technical analysis highlights
- Sun dropped 8.1% from $ 140.39 to $ 129.02 during the analysis period and formed a decrease of $ 11.37.
- The widest price range of the session ranged from $ 141.14 to $ 126.85, a 10.2% intraday swing.
- The biggest Times Fall happened at 1 p.m. 13:00, with the price fell from $ 133.58 to $ 128.82 of 4.03 m volume.
- A falling channel developed across the session, with lower heights and lower low level confirming Bearish structure.
- Key resistance formed at $ 133.80, which uncovered several rebound attempts.
- The original support emerged at $ 127.43, while a new intraday floor formed for $ 128.90.
- From 15:25 to 15:27 pushed a volume tip price below $ 129.30 during a continuing sale.
- Late-session Movement showed solar trading between $ 130.42 and $ 128.85 under uniform sales pressure.
- Several recovery attempts near $ 130.05 failed as volume increased at each rejection.
- Significant supply concentration appeared near $ 130.20, which reinforces short -term bearish momentum.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
