Bitrabo Editorial
With a surge of optimism in the Solana and cryptocurrency markets, renowned analyst Crypto Jelle foresees a significant downturn for SOL, cautioning that the digital asset’s price might retreat to $140.
Anticipating a Correction for Solana
In recent weeks, Solana has navigated through a volatile market, currently showing a bearish trend after falling from $161 to $149. Crypto Jelle predicts a deep correction for SOL back to the $140 mark, attributing it to the coin’s struggle to sustain a bullish momentum observed a few months back.
Unlike the upward trend in February and March that surpassed $200, Solana’s failure to maintain its trajectory and surpass resistance levels suggests potential bearish movements ahead, leading Crypto Jelle to anticipate a drop to $140.
The analyst’s warning coincides with a period of market volatility, underscoring the unpredictable nature of cryptocurrencies and the need for cautious trading strategies.
Forecasting Solana’s Future Trajectory
Recent price movements by Solana have sparked various predictions from crypto experts. Analyst Credibull Crypto highlighted SOL’s price nearing a crucial juncture where support and resistance levels could dictate its upcoming trajectory.
Comparing Solana to Dogecoin, both at a pivotal point, Credibull Crypto suggested that the current scenario is preventing SOL from dropping to $115. He mentioned being out of shorts and waiting to observe SOL’s response to determine the likely outcome.
Despite Bitcoin’s decline, SOL and DOGE are at critical thresholds, poised for a potential temporary reversal if Bitcoin follows suit, offering a rational perspective for Solana’s future movements.