SOLANA Price Prediction, Can Bulls Turn the Tide
- SOL coin faces a setback, stalling at $68 amid cryptocurrency market uncertainty.
- A 24.50% decrease in SOL price during the correction, testing support at $51.40.
- Correction within a 'safety zone,' hinting at potential resumption of the bullish trend.
SOLANA hold above $51 support against the US Dollar.
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According to Coingabbar Price Analysis , Solana price is exhibiting a rounding bottom pattern, indicating a potential resurgence in the market.
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The presence of a rounding bottom implies the establishment of a solid bottom, indicating a possible reversal of the previous trend.
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SOL price traded bearishly, retesting the low at $54.51, forming a symmetric triangle.
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Bullish breakout from the triangle could lead to a momentum regain, testing $58.50 resistance.
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Further upward momentum might push towards $62.00, setting the stage for a key resistance test at $68.00 next month.
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Bears prevailing could break the triangle, prompting a test of $54.00 support.
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Continued bearish influence might lead to a descent towards lower supports at $51.00 or $47.00.
KEY LEVELS :
RESISTANCE LEVEL : $57.00-$59.00
SUPPORT LEVEL : $53.50-$52.00
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
