Solana under pressure as analyst sees $140 support level

Solana (CRYPTO:SOL) is experiencing significant selling pressure, trading at its lowest levels since September 2024, after retracing over 55% from its all-time high in January.  

The broader crypto market's uncertainty has hit Solana particularly hard, with bearish momentum dominating.  

According to analyst Jelle on X, Solana has broken below a crucial demand level, increasing the risk of further declines.  

Jelle noted that Solana lost both monthly and weekly support levels, which could indicate further declines.  

If SOL fails to reclaim lost support, it could face another wave of selling pressure, potentially pushing it into lower demand zones around the $140 mark.  

Solana is currently trading around $139 after a selloff that saw the price drop over 22% since the previous Sunday.

If Solana loses the $140 mark, the next significant demand zone sits around the $125–$130 range.

However, if bulls manage to regain control and push the price back above $185, it could trigger a short-term relief rally.

Some still believe in a potential recovery if market conditions improve.

Changelly's technical analysis expects the minimum cost of Solana to be $140.63 in 2025.

However, other sources provide different short-term forecasts, with Blockchainreporter.net suggesting Solana could recover to the $145–$150 range if bullish momentum continues.

Investors should consider the inherent risks, including market volatility and regulatory uncertainty.

At the time of reporting, Solana (SOL) was priced at $141.67.