{"id":16268,"date":"2025-11-19T23:08:03","date_gmt":"2025-11-19T23:08:03","guid":{"rendered":"https:\/\/bitunikey.com\/news\/solana-sinks-through-support-level-in-broad-crypto-sell-off\/"},"modified":"2025-11-19T23:08:09","modified_gmt":"2025-11-19T23:08:09","slug":"solana-sinks-through-support-level-in-broad-crypto-sell-off","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/solana-sinks-through-support-level-in-broad-crypto-sell-off\/","title":{"rendered":"Solana sinks through support level in broad crypto sell-off"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Solana declined on Tuesday, reaching $134 as the cryptocurrency extended its multi-day retreat to a 13.4% weekly loss, according to market data.<\/p>\n<div id=\"cn-block-summary-block_bf059b66c0e5d7a1ae7f9191c0358349\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Solana extended its weekly decline to 13.4% after breaking below a key psychological support level, triggering automated selling.<\/li>\n<li>Trading volume dropped 26.7%, and Solana is now trading below major short-term moving averages.<\/li>\n<li>Analysts say the next major support lies near late-October levels; a reversal would require a daily close above the 7-day simple moving average to avoid further downside.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The digital asset broke below a key psychological price level that served as both support and resistance throughout the fourth quarter, according to technical analysis. The breakdown triggered automated selling and stop-loss orders, accelerating the decline toward the lower end of its recent trading range.<\/p>\n<p>Trading volume for Solana (SOL) decreased 26.7% over 24 hours, indicating reduced market participation during the downturn. The decline occurred alongside broader cryptocurrency market weakness, driven by Bitcoin price pressure and exchange-traded fund outflows.<\/p>\n<p>At last check late Wednesday, Solana was trading at around $134, down 4.6%.<\/p>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/solana\" target=\"_blank\" rel=\"nofollow\">CoinGecko<\/a><\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\"><strong>Solana\u2019s next real safety net<\/strong><\/h2>\n<p>Solana has slipped beneath every major short-term moving average, and even the modest seven-day trend line is now acting as a ceiling rather than a floor. The MACD is still firmly in the red, though it\u2019s beginning to curl upward \u2014 a hint that selling momentum <em>may<\/em> be losing steam.<\/p>\n<p>Analysts say the charts are flashing clear breakdowns across both the 4-hour and daily timeframes. That leaves Solana leaning on its next real safety net: a support zone it last clung to in late October. If that level doesn\u2019t hold, they warn, the slide could deepen.<\/p>\n<p>A reversal would require a daily close above the seven-day simple moving average, according to technical analysts. Without reclaiming that level, price rallies are expected to face rejection and potential retreats toward prior support zones.<\/p>\n<p>Short-term sentiment remains weak across the altcoin market. Solana\u2019s recent ETF inflows and ecosystem developments have not offset the current market-driven decline, according to market observers.<\/p>\n<p>Just this week, VanEck introduced a Solana ETF on Nasdaq, offering institutional access, with initial fees waived and staking rewards passed to investors. Grayscale launched a spot Solana fund in late October, quickly raising significant assets and sharing staking yields with investors after reducing fees. <\/p>\n<p>The cryptocurrency is approaching oversold conditions on lower timeframes, though bulls must reclaim the seven-day simple moving average to invalidate the bearish technical structure, analysts said.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solana declined on Tuesday, reaching $134 as the cryptocurrency extended its multi-day retreat to a 13.4% weekly loss, according to market data. Summary Solana extended its weekly decline to 13.4%&hellip;<\/p>\n","protected":false},"author":1,"featured_media":16269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-16268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/16268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=16268"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/16268\/revisions"}],"predecessor-version":[{"id":16270,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/16268\/revisions\/16270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/16269"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=16268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=16268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=16268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}