Solana Price Analysis: Imminent $16 Correction On The Horizon?
Solana (SOL) has captured the attention of investors and analysts as its price charts form a distinctive falling wedge pattern. This technical formation, often seen as a potential trend reversal indicator, has stirred discussions about the future trajectory of SOL’s value. A falling wedge pattern is a common chart pattern in technical analysis, characterized by a contracting range between two trendlines that slope in the same direction. The upper trendline, representing the declining highs, converges with the lower trendline, formed by the decreasing lows. This pattern suggests a....
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Crypto analyst MadWhale has suggested that the Solana price could witness more downward pressure in the coming days. Specifically, the analyst predicted that SOL was at risk of a decline to $125 as it retests a key support level. Solana At Risk Of A Drop To $125 With Support Retest In a TradingView post, MadWhale predicted that the Solana price was at risk of dropping to as low as $125 with the retest of the $164 price level, which is a key support level on the horizon. The analyst noted that this is a pivotal support level that has previously proven strong. However, he warned that it....
Solana is under mounting selling pressure, sliding its price further into a correction phase. After struggling to maintain upward momentum, SOL has been steadily retreating, now approaching the crucial $164 support level. This key zone will determine whether the cryptocurrency finds stability or extends its downward trajectory. Market indicators suggest that bears remain in control, with momentum shifting in favor of sellers. If Solana fails to hold above $164, it could open the door to even deeper losses. However, if buyers step in to defend this level, it would trigger a price reversal.....
The flagship cryptocurrency, Bitcoin, is fast approaching $31,000 following its gains over the weekend. Analyzing this price action, crypto analyst Ali Martinez has predicted Bitcoin’s future trajectory as he suggests that the bears could regain dominance soon enough. A Price Correction Imminent For Bitcoin In a post shared on his X (formerly Twitter) platform, Martinez noted the potential head-and-shoulders pattern that was forming on the Bitcoin daily chart following its upward trend. This chart pattern has always been considered bearish as it suggests that a trend reversal might be on....
On Thursday, 3iQ Digital Asset Management announced the filing of a preliminary prospectus for The Solana Fund (QSOL) with securities regulatory authorities across Canada, excluding Quebec. If approved, QSOL will become the first Solana (SOL) exchange-traded product (ETP) listed in North America, trading on the Toronto Stock Exchange (TSX) under the ticker “QSOL”. First Solana […]
Solana (SOL) is showing resilience as it holds firmly above critical demand levels, signaling the potential for an upcoming rally. Despite broader market indecision, with Bitcoin (BTC) struggling to regain upward momentum, Solana’s price action suggests strength in the face of uncertainty. Investors are closely monitoring SOL’s ability to maintain its current levels, as a breakout could set the stage for substantial gains. Related Reading: Cardano Holds Crucial Support At $0.77 – Massive Rally Ahead? Top analyst Ali Martinez recently provided technical insights highlighting Solana’s most....