✨With the weakening of buying pressure, Solana (SOL) shorts threaten the $225 support level

Solana's SOL/USD recovery efforts have encountered strong resistance. This struggle has also allowed Solana shorts to push down the price, which is currently hovering around $238.
Currently, SOL holders may hope for a rapid economic recovery, but the latest outlook analysis suggests that this may not be realized in the short term.

🐳Solana's Liquidity is high but at a low level
The liquidation heatmap is an indicator that SOL's price may be about to fall. The heatmap predicts the price level at which large-scale liquidation may occur and helps to understand high liquidity areas on the order book.
For example, if the Liquidity concentration in a certain area is high, the heat map color will change from purple to yellow. In most cases, this color change indicates that the price of Crypto Assets may move to that area. On the other hand, if the concentration is low, the color remains purple.

From the perspective of a three-day time range, the liquidation heat map shows that liquidity is highly concentrated at $246. However, another one also remains at $225, which seems to be a support level. Due to the lower volume, Solana shorts may push the price of AltCoin to or below this point.
In addition, the daily SOL/USD chart shows that the Chaikin Money Flow (CMF) indicator has declined, which tracks the inflow and outflow of Liquidity of Crypto Assets.

🌈 CMF rise indicates increased buying pressure, suggesting that the price may pump. Conversely, CMF decline reflects increased dumping pressure and capital outflow, which usually indicates a price decline.
In the case of Solana, the CMF's decline is consistent with the rise in dumping pressure, which enhances the possibility of further price decline, as previously emphasized.

📈SOL Price Prediction: $300 is no longer the target
Another assessment on the daily chart shows that the Balance of Power (BoP) has fallen into the negative territory. BoP is a price-based indicator used to compare the strength of long positions and short positions.
When the reading rises and is positive, it means longs are in the lead. But in this case, it seems that short positions in Solana are dominant. If this trend continues, the price of SOL may fall below $225.

If it continues, the Fibonacci retracement indicator suggests that the altcoin may fall to the 23.6% level, which is about $222. In the event of a significant fall, it may fall to $200.
However, if the buying pressure increases, this may not happen. In this case, the value of alts may rise to $265.
(tv-Beincrypto)