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Will Solana Price Kickstart Rally to $400 or Crash Lower?
The post Will Solana Price Kickstart Rally to $400 or Crash Lower? appeared on BitcoinEthereumNews.com. Solana price a layer one crypto has witnessed a decrease recently, mirroring bearish trends across the crypto market. After November’s bullish rally broke critical resistance levels, the token entered a corrective phase. Crypto experts remain optimistic, predicting a potential rally toward $400. However, BTC price trading below $96k has heightened market concerns of extending the ongoing crash. The critical question arises: will Solana’s price drop further, or is a bullish breakout on the horizon? Is Solana Price Primed for a $400 Surge or a Deeper Correction? Solana price has struggled recently, failing to enter price discovery after its record high of $263 in November. Over the past 30 days, the cryptocurrency has displayed a clear downtrend, marked by lower highs and lower lows. While this 15% dip is significant, crypto analysts still believe that SOL still has a lot more potential for long term gains. Currently hovering around the critical $175 support level, Solana’s technical indicators suggest a possible rebound in the near future. Some experts view this pullback as a buying opportunity, especially with weak sentiment dominating the broader cryptocurrency market. Investors are now questioning whether Solana’s stabilization at this level signals a chance to go long, despite the recent challenges and market-wide uncertainty. Crypto analyst Captain Faibik has identified a promising breakout pattern in Solana price on its weekly chart. According to his analysis, SOL has emerged from a bullish pennant formation and is retesting critical support levels. The analyst with this technical move proposes that investors buy the dip and hold SOL for $400. The recommendation also reaffirms strong belief that Solana will continue rising in the cryptocurrency market. Source: X SOL Price Analysis The latest SOL price is hovering at $185, making a slight decrease of 0.3% over the past 24-hours. The broader cryptocurrency market has…
The post Will Solana Price Kickstart Rally to $400 or Crash Lower? appeared on BitcoinEthereumNews.com.
Solana price a layer one crypto has witnessed a decrease recently, mirroring bearish trends across the crypto market. After November’s bullish rally broke critical resistance levels, the token entered a corrective phase. Crypto experts remain optimistic, predicting a potential rally toward $400. However, BTC price trading below $96k has heightened market concerns of extending the ongoing crash. The critical question arises: will Solana’s price drop further, or is a bullish breakout on the horizon? Is Solana Price Primed for a $400 Surge or a Deeper Correction? Solana price has struggled recently, failing to enter price discovery after its record high of $263 in November. Over the past 30 days, the cryptocurrency has displayed a clear downtrend, marked by lower highs and lower lows. While this 15% dip is significant, crypto analysts still believe that SOL still has a lot more potential for long term gains. Currently hovering around the critical $175 support level, Solana’s technical indicators suggest a possible rebound in the near future. Some experts view this pullback as a buying opportunity, especially with weak sentiment dominating the broader cryptocurrency market. Investors are now questioning whether Solana’s stabilization at this level signals a chance to go long, despite the recent challenges and market-wide uncertainty. Crypto analyst Captain Faibik has identified a promising breakout pattern in Solana price on its weekly chart. According to his analysis, SOL has emerged from a bullish pennant formation and is retesting critical support levels. The analyst with this technical move proposes that investors buy the dip and hold SOL for $400. The recommendation also reaffirms strong belief that Solana will continue rising in the cryptocurrency market. Source: X SOL Price Analysis The latest SOL price is hovering at $185, making a slight decrease of 0.3% over the past 24-hours. The broader cryptocurrency market has…
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