Solana Wave Analysis – 18 March 2025

Solana: ⬇️ Sell

– Solana reversed from the resistance zone

– Likely to fall to support level 113.75

Solana cryptocurrency recently reversed down from the resistance zone lying at the intersection of the resistance level 134.65 (former support from the end of February), 20-day moving average and the 38.2% Fibonacci correction of the downward impulse from the start of March.

The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Evening Star.

Given the widespread bearish sentiment across the cryptocurrency markets, Solana can be expected to fall to the next support level 113.75 (the former low of wave (2) from the start of March).