Solana (SOL) Failure To Break $154 Could Lead To $85 Correction – Analyst
Prominent altcoin Solana was one of the major headliners recently, notching an 8.22% gain in the last seven days, according to data from CoinMarketCap. This positive performance saw Solana climb as high as $150, a price mark last seen in late August. The sentiments around the fifth-largest cryptocurrency are largely bullish, however crypto analyst Ali Martinez has released certain cautionary notes for investors. Related Reading: Solana Liquid Staking Could Touch $18 Billion – Will It Benefit These Altcoins? Solana’s Price Breakout Crucial To Avoid Slip To $85 In an X post on Sunday, Ali....
Related News
Solana, a public blockchain known for its high transaction speeds, is again under scrutiny. After challenges around reliability in the past years, analysts are now highlighting another concern. Solana Facing New Transaction Processing Challenges Taking to X, one user said the network has alarmingly high transaction failure rates. This performance problem, the analyst added, tends […]
Solana’s price action has shown some sort of resilience in the past few days while much of the cryptocurrency market turned red. After surging past $210 to reach as high as $218 on August 29, SOL briefly dipped below $200 but quickly stabilized, outperforming major large-cap assets such as Bitcoin, which has been locked in a decline since August 14. This has put Solana in an interesting position, and technical analysis shows its correction phase is constructive and could prepare the token for another breakout. Related Reading: A New Vision For Money: Hoskinson Predicts Bitcoin Will....
Crypto analyst Ali Martinez has highlighted a crucial moment for the price action of Solana, pointing to a key support level within a parallel channel. His technical analysis, which is based on SOL price action on the daily candlestick timeframe, shows that the altcoin has been trading in an uptrend channel since July 2024. Notably, this uptrend channel has been highlighted by the formation of higher lows and higher highs as Solana continued to push to new all-time highs. Now, Martinez noted that holding above a key support level could reinforce the altcoin’s uptrend towards the....
Bank of America’s analyst says that Solana could take market share away from Ethereum. Noting that Solana is optimized for micropayments, gaming, and non-fungible tokens (NFTs), the analyst expects “Solana could become the Visa of the digital asset ecosystem.”
Bank of America on Crypto, Ethereum, and Solana
Bank of America (BOFA) analyst Alkesh Shah published a research note on cryptocurrency this week arguing that Solana could take market share away from Ethereum.
The Bank of America analyst described that Solana “produces a....
Solana (SOL) is trading at its lowest price level since September 2024, as the entire crypto market struggles with fear and intense selling pressure. Solana has lost over 55% of its value in less than six weeks, erasing the gains from its post-election rally and raising concerns among investors about a potential prolonged downtrend. Related Reading: Dogecoin Open Interest Declines 67% In Three Months – Can Meme Coins Recover? Panic has taken over the market, and traders are growing fearful that Solana’s correction may continue into lower price levels. Despite multiple attempts to reclaim....