Lokesh Gupta
19-01-2024
Solana faces resistance at $120 after a steady climb.
SOL forms a short-term top, echoing Bitcoin and Ethereum declines below $112 support.
SOL is currently within a Descending Channel pattern on its daily chart.
Potential breakdown below the 50 Day MA could trigger panic selling toward $68.
Despite a bullish weekly chart, market slump prompts a retest phase for Solana.
SOL struggles below $100, grappling with increased supply after losing psychological support.
A 20% drop in two weeks and higher price rejections in weekly candles signal a potential downtrend continuation.
Sideline buyers eye $100 breakout as an entry point, targeting upside potential to $125.
According to Coingabbar's analysis, a drop below the 50-Day MA at $88.50 may push SOL to $68.
Coingabbar's analysis suggests that Solana Price Prediction 2030 could reach a minimum of $270.
Coingabbar's analysis suggests that Solana Price Prediction 2040 could reach a minimum of $500.
KEY LEVELS :
RESISTANCE LEVEL : $98-$104
SUPPORT LEVEL : $91-$87
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
5 months ago
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