😱 Solana’s $180 Support: Fort or Folly? 🤔

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In the dusty town of Crypto-ville, Solana (SOL) found itself in a pickle, like a coyote chasing a coin. Amidst theLibra token’s rug-pulling shenanigans, SOL lost its footing at the $200 mark. Three days of bearish blues, and our hero’s looking at its third frown in a row. 📉

Like a cartoon character running off a cliff, Solana’s price is free-falling, and its network strength is waning. The question on everyone’s lips: Can the buyers build a fort at $182, or is this just a house of cards?

The $180 Battleground: Will Solana Stand Tall?

On the chart of daily toils and spoils, SOL’s price has tumbled like a boulder down a hill. From the peaks of $295, it’s now scratching its head at $182.

Currently, SOL’s trading at $185, with a 1.34% intraday pullback—a mere flesh wound in the grand scheme of things. The support trendline, once a mighty fortress, has been breached, and the bulls are in retreat. 🐂🏃‍♂️

But like a cat with nine lives, SOL’s bouncing back from its 24-hour low at $180. It’s a game of ping-pong, and the lower price is getting rejected like a bad date. This zone might just be the diamond in the rough for potential buyers. 🛍️💍

Bears Roar, Bulls Whisper

The rug-pulling escapade of Libra has shifted market sentiment like a sneeze in a crowded room. The MACD and signal lines’ potential love affair has been thwarted, leaving them star-crossed and separated.

The average lines are marching to the bearish drumbeat, with bearish histograms popping up like mushrooms after a rain. Yet, the daily RSI line is holding its ground, not falling for the oversold line’s siren call. Could this be the calm before the SOL-ful storm? 🌪️

On-Chain Woes as SOL Tokens Prepare to Fly Free

With Libra’s shadow looming large, Solana’s DEX trading volume has taken a 25% dive. Raydium, a Solana-based protocol, has fallen harder than a sack of potatoes. 🥔

And if that wasn’t enough, 11.2 million SOL tokens are set to break free on March 1, like a jailbreak of digital misfits. Galaxy, Pantera, and Figure are about to unleash their supply onto the world. It’s like adding more coyotes to the chase. 🦖🏃‍♂️

With supply pressure and rug-pulling antics, Solana’s downfall seems as certain as death and taxes. To add insult to injury, Ali Martinez points out a trend that’s about as cheerful as a rainy Monday. The big SOL wallets are thinning out faster than a bad haircut. 🪒

The number of wallets holding more than 100 #Solana $SOL has declined by 2.24% over the past two weeks, dropping from 154,653 to 151,184!

— Ali (@ali_charts) February 17, 2025

From 154,653 to 151,184, the SOL holders are fewer, like guests at a party when the food runs out.

SOL’s Price Targets: A Game of Snakes and Ladders

If SOL slips under the $180 support, it’s heading south to $161. Keep sliding, and we’re talking $150 and $135—like a game of crypto snakes and ladders.

But if the bulls find their spurs, a trip back to $200 and a visit to the 38.20% Fibonacci level at $210 might just be on the cards. 🎉

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2025-02-17 16:36