Solana price after the mesmerizing rally above $215, shed almost half of its gains within no time. The recent crash appears to have impacted the most as the SOL price was heading strongly towards the $183 resistance. Therefore, the price landed close to $116 while aiming to regain the lost positions above $200.
Amid the bearish trend, yet the probability of a notable jump appears to be high as the asset is currently switching on its rebound mode. In the past couple of days, the price dipped profusely and RSI was diving deep into the sea. Yet the fresh day initiated with a sigh of relief as the buyers seems to have jumped in. However, the volume is very less than required, yet the hopes of a gigantic rally are still alive.
Also Read: Cardano, Solana and Ripple Price Quickly Regained a Momentum! Know the Upcoming Future Trend
The crypto space is currently grabbing every opportunity to bounce back and eliminate the bearish trend caused by numerous FUD’s. However, bashing the negativity, the SOL price could range above $150 soon.
One of the popular analysts, Pentoshi has laid out a macro update for Solana price. He believes the price could hit $154 in the next 7 to 10 days for a swing. Interestingly, the analyst had also previously predicted that the price could plunge down. The time frame for the plunge below $120 was somewhere in mid-October but the event occurred a month before.
The price for a couple of days is following a bearish trend by swinging within a descending parallel channel. It’s attempting very hard to smash the upper resistance level at $135. No doubt it had attempted previously, but immense FUD just dragged the price lower. The asset could yet again raise high and reach the strong resistance zone in between $147 and $150 soon.
Collectively, Solana price despite the bearish trend within the crypto space could raise high as the bullish momentum is intact. Further eyeing another 20% upswing, it can range above $150 soon. However, the SOL price still seems to be pretty sure about its upcoming price movement that resides above $200.
Also Read: What Awaits For The Crypto Market This Thursday
PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.
