news 
Solana’s price has taken a dip below the crucial level of $120, leaving investors wondering if a reversal is imminent.
As of March 2025, the weekly chart reveals that Solana has reached the lower part of the Ichimoku Cloud, signaling a critical support zone. This development raises questions about the token’s future trajectory and whether it will bounce back or continue its downtrend.
The price action suggests a potential area of consolidation before any potential reversal. The key support level at $120.12 must hold in the coming weeks for Solana to avoid a deeper downturn, with further declines likely to reach the next major support levels.
In recent times, Solana has seen a significant drop, amounting to a 5.01% decline. This sudden shift could be interpreted as a cleansing phase, where the market is shedding weaker positions. However, it’s crucial to consider that this type of activity often precedes a strong rebound in the token’s price.
Volume analysis reveals a decrease in trading volume during the downtrend but maintains a relatively stable sentiment for Solana, indicating an opportunity for a robust recovery.
Source: https://cryptonewsland.com/solanas-price-dips-below-key-level-at-120-is-a-reversal-coming-soon/
