Analyst Issues Solana Warning, Predicts Deep Correction for SOL in Coming Months – Here’s His Downside Target
A extensively adopted crypto strategist is updating his outlook on Ethereum (ETH) competitor Solana (SOL).
Pseudonymous crypto strategist Pentoshi tells his 738,500 followers on the social media platform X that SOL might dip in the approaching months by greater than 40% from its present worth.
“Not sure we get as low as I have here, but do expect at some point to be able to bid in the $70s. Looking forward to not just trading SOL, but holding some eco-system coins for the next year or so.”
Taking a look at his chart, the dealer means that Solana might dip to round $70 on the finish of March after which rally towards $90.
Solana is buying and selling for $99.64 at time of writing, up 13.27% in the final 24 hours.
Two different fashionable crypto merchants are additionally predicting a market correction for Solana.
Pseudonymous analyst Altcoin Sherpa tells his 204,900 followers on the social media platform X that Solana will probably dip to Fibonacci retracement ranges 0.382 at $84.50 or 0.50 at $71.67.
“SOL: plan still remains, 0.382 and 0.50 Fib levels are the areas of interest. These will both be great entries for the long run in my opinion. Sold some of my SOL higher.”
In the meantime, pseudonymous crypto strategist Rekt Capital tells his 385,700 followers on the social media platform X that SOL is dangerously near flipping a key help stage at $98 into resistance after which dipping into the $70 vary.
“Weak reaction from the range low. This reaction was promptly cancelled out. Now SOL is threatening to lose range low as support. Weekly close below the range low could begin the breakdown process into the green area below.”
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