Solana (SOL) Retests Crucial Support Level – Is A 50% Price Drop On The Horizon?
Solana (SOL) has seen a nearly 40% retrace over the past month, losing key support levels since February. As its price retests a key horizontal level, some analysts warn of a potential 50% correction to a yearly low. Related Reading: Solana Falls Under Realized Price: Here’s What Happened Last Time Solana Loses Key Support Level Solana has been one of the leading cryptocurrencies of the cycle, fueled by the market’s memecoin frenzy. The altcoin climbed over 270% in a year to its latest all-time high (ATH) of $270, registered nearly two months ago. Nonetheless, SOL’s bullish sentiment has....
Related News
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....
Bitcoin (BTC) has failed to reclaim $84,000 resistance again and has fallen 4% to retest another crucial support zone. Some analysts suggested that the cryptocurrency’s rally will be determined by its weekly close, which could see BTC crash or climb to new levels. Related Reading: Solana (SOL) Retests Crucial Support Level – Is A 50% Price Drop On The Horizon? Bitcoin Hits $84,000 Wall Again After losing the $84,000-$86,000 support zone on Sunday, Bitcoin has failed to reclaim this level. The flagship crypto has retraced over 11% in the past week, briefly falling to a 4-month low of....
After reclaiming crucial levels, Solana (SOL) has been moving sideways within a key price range, with its next direction yet to be determined. However, some analysts suggest a breakout could kick-start a new bullish rally in the coming months. Related Reading: Monero (XMR) Price Jumps 50% Amid ‘Suspicious’ $330 Million BTC Transfer – Details Solana Moves Within Key Range Amid its 15% biweekly recovery, Solana, one of the leading altcoins of this cycle, has attempted to reclaim a crucial resistance after recovering the $140 support for the first time since late February. Earlier this month,....
Solana (SOL) recently experienced a price pullback after failing to break below the crucial $118 support level. This rebound indicates strong buying interest at this support level, preventing further declines and stabilizing the price. The $118 mark has proven to be a resilient support, with market participants closely watching Solana’s price action for signs of […]
As the month nears its end, the crypto market turns momentarily red, with Solana (SOL) retesting a crucial support level that could determine its short-term performance. An analyst suggests that holding the current range over the weekend will be key for the long-awaited rally back to $200. Related Reading: Bitcoin $106,800 Support Retest To Determine Next Move – Breakout Or Breakdown Ahead? Solana Hits Multi-Week Low Amid the crypto market pullback, most cryptocurrencies are recording a red Friday, with Bitcoin (BTC) and Ethereum (ETH) momentarily losing some key levels. Solana, one of the....