Solana presented bears with a risky opportunity after this point

Over the past two days, Solana appeared to reverse the bearish trajectory it had been on since late February. This was a trend across the crypto market following the short-term bullish sentiment behind Bitcoin in the early hours of Monday.

Timeline of Solana

While the selling pressure in the crypto market eased off, the Solana coin price bounded back from the $17.25 support on March 10th. The bullish reversal surged the coin price by 21.65% in the last four days and pushed it above the $20 psychological level.

Solana price analysis shows a strong uptrend in the price action as bulls gain seven percent more. The SOL token is trading at $19.40, which is seven percent higher than the lowest of the day at $18.02.The bulls have made a massive move in the last 24 hours and are currently pushing for higher prices.

Last week, the price of Solana (SOL) started depreciating from well above the $23.50-level on the price charts. Soon enough, the market's bears pushed the crypto's price below the $22 support zone and sparked a bearish wave.

Solana price analysis for today shows a bullish trend after a period of a market correction. The bearish sentiment of the past couple of days has been reversed as the bulls are pushing for higher prices.

Solana rebounded from a two-month low to start the weekend, as bulls reentered the market to buy the recent dip. Overall, the global crypto market cap is currently trading 1.8% higher, following a nearly 10% drop on Friday. Polygon was another notable mover, as price rose by nearly 7% on Saturday.

Solana price analysis for March 11, 2023, reveals the market following a partial bullish movement; moreover, Solana has obtained massive negative momentum, signifying a decline for the SOL market. Solana's price has been experiencing a decline in the last few hours, dropping from $18.30 to $16.09 yesterday.

SOL Price Prediction: Starting from mid-January, the Solana coin traveled a sideways trend for the last few months, resonating between the $26.8 and $20 levels. However, with the increase in selling pressure in the market, the sellers obtained an upper hand and breached the range support of $20.

The crypto market witnessed a major price correction over the last day, and Solana [SOL] followed suit. Along with most of the cryptos, SOL took a harder hit as its price declined by over 8% in the last 24 hours.

Solana presented a worrying possibility on the price charts. Its performance in January was remarkable, but its sharp fall beneath the psychological $20 level meant bears were utterly dominant.

Solana lost its key support at $20 and is now accelerating down. Solana Price Analysis Key Support levels: $17, $15 Key Resistance levels: $20, $23 SOL failed to maintain its price within the descending triangle, and with the support at $20 turned into resistance, it's currently in search of support.