Solana Price Drops Below Key Support Level
- Increased Technical Pressure: Solana (SOL) is experiencing heightened technical pressure after losing the critical $103 support zone, with current trading around $103.9 following a sharp sell-off that rapidly erased multiple support levels.
- Downtrend Confirmation: The 4-hour chart indicates a series of lower highs and lower lows throughout late January, confirming a short-term downtrend, particularly highlighted by a near-vertical drop into the $100–$105 zone, accompanied by a significant volume spike indicating forced selling.
- Lack of Support: Analyst Ali Martinez notes that once Solana trades below $103, the next major support level is significantly lower at $63, aligning with the current chart's lack of structural support where prices previously moved through this range during earlier impulsive phases.
- Market Vulnerability: For downside risks to ease, Solana must reclaim and hold above the $103–$106 region on strong volume; without this reclaim, any short-term bounces will remain corrective rather than trend-reversing, and the current structure suggests that failure to stabilize above $100 could expose SOL to deeper retracement toward the $63 area.
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Technical Analysis for FORM
Technical Sentiment Analysis for Formation Fi (FORM) As of , Formation Fi (FORM) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for FORM stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, FORM is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Formation Fi (FORM) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0816 | 0.138 | 0.19 | 0.247 | 0.299 | 0.356 | 0.408 |
| Fibonacci | 0.138 | 0.179 | 0.205 | 0.247 | 0.288 | 0.314 | 0.356 |
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