Solana Analysis, May 25, 2025
Solana on the M15 time frame In the area highlighted in green, it appears that the previous price experienced a strong rejection, as seen from the sharp decline after testing it. After the breakdown, the price tried to make a pullback which is currently ongoing. However, it should be noted that this pullback has not shown significant strength from buyers. The volume or strength of the candles looks weak compared to the previous bearish candles. Current short-term support is around the 170.00 area, which is the latest low before the price retracement. If the price fails to break through the resistance and falls again, this area becomes the first logical target that might be retested. If the price rises to the supply area that I marked and forms a bearish candlestick signal, then it is a good opportunity to open a sell position. Place a stop loss slightly above the resistance area, for example around 177.00, to avoid false breakouts.