SOLANA Price Prediction, Is the bull market ended

SOLANA is trading above $50 against the US Dollar, mirroring Bitcoin's

• Solana's price decreased by 3% in the last 24 hours,following a market-wide downturn triggered by Binance's settlement with the US Department of Justice yesterday.

• Solana's SOL experienced notable volatility, reaching highs near $0.70 but subsequently dropping to approximately $55, partly influenced by the SEC's actions against Kraken.

• The sellers are gearing up for a guerrilla maneuver to seize control, capitalizing on the emergence of a bearish continuation pattern in the Solana price chart.

Technical Views:

• According to Coingabbar Price Analysis, The weekly chart of Solana is currently in the process of generating a TD Sequential sell signal.

• The SOL price trend indicates a potential bearish reversal signaled by an inverted head and shoulders pattern.

• Following a panic sell-off, the bulls successfully maintained support at the trendline and a key psychological level around $50.

• If buyers can maintain momentum, the bullish rally may retest the $75 mark.

• On the flip side, a reversal below the psychological $50 mark, coupled with a breakout below the trendline, could lead to a decline in prices to the $44-$45 range.

KEY LEVELS :

RESISTANCE LEVEL : $56.00-$58.00

SUPPORT LEVEL : $53.00-$50.00

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.