At press time, Solana trades at $222, hovering just above the $221 support level. The altcoin has been in a consistent upward trend for the past three and a half months, making this level crucial for maintaining market structure.
Given current conditions, a dip to $213 seems likely if selling pressure increases. Stronger outflows could accelerate losses, pushing SOL to test the $200 level and breaking its multi-month uptrend.
Conversely, if Solana rebounds from $221 and market sentiment improves, it could climb toward $232 and beyond. Such a move would invalidate the bearish outlook and potentially reignite the rally.
Given current conditions, a dip to $213 seems likely if selling pressure increases. Stronger outflows could accelerate losses, pushing SOL to test the $200 level and breaking its multi-month uptrend.
Conversely, if Solana rebounds from $221 and market sentiment improves, it could climb toward $232 and beyond. Such a move would invalidate the bearish outlook and potentially reignite the rally.
Truly Unbiased Cryptocurrency News beincrypto.com
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Truly Unbiased Cryptocurrency News beincrypto.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.