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Solana ($SOL ) Approaches Critical Support Level – What's Next? Solana ($SOL) is at a crucial juncture as it tests its lower boundary within a parallel channel, currently holding support between $185 and $193. Analysts, including Ali Martinez, highlight that maintaining this level is essential for Solana to continue its bullish market structure and target higher price levels. 📊 Key Technical Levels: 🔹 Support Zone: $185 - $193 (Crucial for bullish momentum) 🔹 Immediate Resistance: $210 🔹 Major Targets: $300 - $387 (if bullish trend sustains) A strong defense of the support zone could attract buying pressure, reinforcing positive sentiment and allowing SOL to break above $210, with a potential rally toward $300 and eventually $387. However, failure to hold support could shift sentiment bearish, triggering a drop toward $160 or $150. 🔍 Technical Indicators: 📈 MACD: Shows early signs of bullish momentum. 📊 Histogram Bars: Transitioning from red to near-positive, suggesting bearish pressure is weakening. At press time, SOL is trading at $197, up 3.39% in the past 24 hours, with a market cap of $96.42 billion and a 24H trading volume of $2.59 billion.

Solana ($SOL) price approaches an essential support threshold while operating in an established parallel channel structure. The direction of cryptocurrency movements at this support threshold will shape future trend patterns. Analysts have weighed in on whether SOL will continue holding its current position above the support level or break below it. Solana Price Retests Lower Boundary of Parallel Channel Crypto Analyst Martinez noted that Solana price maintains its position within a parallel channel structure along its lower boundary at between $185 and $193. Past price movements in this area of support have created fundamental influences on price trends. The digital asset demonstrates resilience for its upper and lower boundaries in this structure. Additionally, the analyst emphasized that Solana price ability to sustain this support level suggests that it will continue building its bullish market structure. A solid defense of this support level enables buying pressure which strengthens market belief in Solana price. Upside Towards $387 Resistance Target Ali Martinez further predicts that Solana price will rise toward the $387 resistance target if it manages to stay above its support area. A rise from current price points would establish conditions suitable for breaking through immediate resistance levels at $210. Technical indicators based on Fibonacci retracement levels converge in the anticipated resistance area. This strengthens the potential for price growth if the support area holds. The potential price movement to $387 would constitute a significant growth above existing levels. However, breaking down below the support might erase the potential upward movement. Selling pressure would increase when the SOL price falls below the parallel channel’s lower boundary and would perform a support retest at lower levels. A price drop would change market sentiment in a way that could fuel additional downward price action. Solana Technical Analysis On the technical indicators outlook, the MACD line is showing a slight upward movement, signaling the possibility of emerging bullish momentum. The signal line remains slightly below the MACD line, indicating a developing positive trend but still lacking strong confirmation. The current readings suggest that buyers are slowly gaining control, although the momentum is still in the early stages. Moreover, histogram bars are transitioning from negative to near-positive territory, reflecting diminishing bearish momentum. The shrinking red bars signal a gradual shift in sentiment, with the potential for the histogram to flip to green if the buying pressure increases. If confirmed, it may align with broader price movements, particularly if Solana sustains support near $193. Meanwhile, a recent analysis indicated potential for a SOL price rally to $350 if bullish momentum strengthens, with key resistance at $220 and $300. However, failure to hold the $200 support could lead to a drop toward $160 or $150. At press time, Solana (SOL) is trading at $197, up 3.39% in the past 24 hours with a market cap of $96.42 billion. With a 24-hour trading volume of $2.59 billion, the token is nearing the key $200 resistance level.

Dogecoin (DOGE) price traders are eyeing a major price move as the meme coin consolidates within a bullish falling wedge pattern. Analysts predict that a breakout above $0.276 could trigger the liquidation of over $94 million in short positions. This would potentially propel the price toward $0.30. With rising open interest and whale accumulation, DOGE appears primed for heightened market activity. In addition, long-term forecasts from market analysts suggest that Dogecoin could surpass $10 during the next significant market cycle, driven by historical price surges and increasing interest from large holders. Dogecoin Price Falling Wedge Targets $0.30 Breakout The 4-Hour chart of Dogecoin price (DOGE) presents the falling wedge pattern, which is seen to be a reversal pattern. This is where two converging trend lines are formed due to the formation of lower highs and lower lows as the bearish pressure gets weak. At the time of writing, DOGE was at $0.25381, further up, the price was being resisted by the upper trend line. Technical Indicators Show Momentum Building Currently, the Relative Strength Index (RSI) of DOGE is at 46.00. This is most of the time neutral but leans towards oversold. MACD has indicated an improving bull trend with the histogram bar proceeding to the positive side. This means that bearish pressure is declining. Analyst Ali points out that $0.276 is a critical level, with $94 million in short liquidations at risk across major exchanges. If Dogecoin price (DOGE) surpasses this level, it could act as a catalyst for rapid upward movement. This marks a significant shift in market sentiment. Open Interest and Whale Activity Boost Market Confidence Open interest (OI) data shows that users are active in the futures and options market of Dogecoin. The open interest of $1.2 billion shows that traders are opening new positions on different exchanges. It looks slightly up by 1.20% in the last 24 hours. Among the leading derivatives exchanges, Binance has the highest OI at $ 554.9 million. Bybit is at the second position at $395.6 million. This concentration means that most of the actions happen in these platforms. These are the places that can be used to closely track the prices. At the same time, there is concentration of whales which is referred to as the whale accumulation. As per the on-chain data, large investors have purchased 750 million Dogecoin (DOGE) during the low trend. The accumulation by large holders has risen by 5.33% in the last seven days, while the rise in large holder activity within the last 90 days was up 3,722.46%.. Short- and Long-Term Scenarios for Dogecoin Price In the short term, the level that has the most influence on DOGE is located at $0.276. Essentially, the price may rise to $0.30 in the shortest time and more resistance may be found around $0.32-$0.35. Nevertheless, the levels failed to be breached to the upside and this brings about a possibility of a tumble back to $0.25 or even as low as $0.20-$0.22. Long-Term Predictions Analysts are increasingly optimistic about DOGE’s potential in the next major market cycle. Drawing on historical patterns, which saw Dogecoin surge by 21,821% and 54,890% in previous bull markets, some projections suggest that DOGE could surpass $10. Disclaimer The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

This trading pair will be delisted on 10 February 2025, 10:00 (UTC), please be aware of the potential risks when trading. The delisted trading pairs are: BCCOIN/USDT, OGLG/USDT, 1CAT/USDT, ATR/USDT, GTAI/USDT, HGPT/USDT, LOE/USDT, OPUL/USDT, QTLX/USDT, SPACE/USDT, BILLY/USDT, HIVP/USDT, GDV/USDT, TST/USDT, ALI/USDT, ATLAS/USDT, BENDOG/USDT, BLOK/USDT, CATE/USDT, CEL/USDT, DADDY/USDT.

This trading pair will be delisted on 10 February 2025, 10:00 (UTC), please be aware of the potential risks when trading. The delisted trading pairs are: BCCOIN/USDT, OGLG/USDT, 1CAT/USDT, ATR/USDT, GTAI/USDT, HGPT/USDT, LOE/USDT, OPUL/USDT, QTLX/USDT, SPACE/USDT, BILLY/USDT, HIVP/USDT, GDV/USDT, TST/USDT, ALI/USDT, ATLAS/USDT, BENDOG/USDT, BLOK/USDT, CATE/USDT, CEL/USDT, DADDY/USDT.