Solana risks dropping as low as $90 if this chart pattern scenario plays out
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.
Something I forgot to mention is that a sustained close below the channel’s lower boundary at $126 will trigger a significantCryptocurrencies continued to fall on Saturday, extending Friday's bearish move that brought Bitcoin to its lowest point in a month.Bitcoin's Road Below $50,000: Are You Ready? Here's Why Shiba Inu Can't Wake Up, XRP Breaches Key Support Level
Bitcoin had slightly rebounded following a weaker-than-expected nonfarm payrolls report before reversing to the downside. Although a few cryptocurrencies are trading up, others are down, like Solana, which has fallen 3.19% in the last 24 hours to $127. The SOL token is also down 7.18% weekly.As the crypto market faces selling pressure, the crucial level to watch, according to Ali, is the lower boundary of the SOL parallel channel at $126.
In this scenario, a sustained close below the highlighted key level at $126 might trigger a significant Solana price correction to $110 or even $90. In the event of a price rebound, SOL could rebound from the channel's lower boundary toward the middle or upper boundaries, positioned at $154 and $187, respectively.According to Ali, historically, two weeks before the Solana breakpoint occurrence, SOL prices tend to rise. It increased by 35% in 2021, 35% in 2022, and 60% in 2023. The market closely watches if this historical trend might repeat as the Solana breakpoint event approaches.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Get a 50-inch 4K UHD smart TV for $210 — $90 offThe 50-inch Insignia F30 Series 4K TV with Amazon's Fire TV is already pretty affordable, but it's even cheaper right now from Amazon with a smart TV deal.
Read more »
The remarkable Galaxy Buds 2 Pro are $90 off and much more attractive at AmazonPolina Kovalakova, a News and Affiliate Content Writer, has nurtured a passion for mobile technology since the era before smartphones. With a history of exploring a variety of devices, her insights into the mobile world are both broad and nuanced.
Read more »
Harris campaign's new $90 million in battleground state ads aims to sharpen contrast with TrumpKamala Harris’ presidential campaign is launching a $90 million advertising effort over the next three weeks to introduce the Democrat to voters and sharpen the contrast with Republican Donald Trump.
Read more »
Harris campaign's new $90 million in battleground state ads aims to sharpen contrast with TrumpKamala Harris’ presidential campaign is launching a $90 million advertising effort over the next three weeks to introduce the Democrat to voters and sharpen the contrast with Republican Donald Trump. The media buy marks her campaign’s largest-yet investment in messaging to voters with just 2 1/2 months until Election Day in November.
Read more »
Harris campaign’s new $90 million in battleground state ads aims to sharpen contrast with TrumpWASHINGTON (AP) — Kamala Harris' presidential campaign is launching a $90 million advertising effort over the next three weeks to introduce the Democrat
Read more »
Harris campaign's new $90 million in battleground state ads aims to sharpen contrast with TrumpKamala Harris’ presidential campaign is launching a $90 million advertising effort over the next three weeks to introduce the Democrat to voters and sharpen the contrast with Republican Donald Trump.
Read more »