Solana (SOL) Might See Epic Rally If This TD Sequential Signal Holds.

Solana (SOL) is currently not in a

positive spot as its price slump has

extended the trailing 7 day losses to

10.37%. At the time of writing, this loss

appears to be thinning out, however,

there is a projection of a likely change

in trend.

Solana Bullish Revival Is Imminent.

In the financial market, the rise and fall in prices is one key feature that has formed a law. While there may be extended periods of drawdown, there is often an imminent rebound.

In the case of Solana, top market analyst Ali Martinez has weighed in.

According to Martinez, Solana price has hit a major support level at the $141 mark. Taking a look at the Solana

chart, the coin dropped to a 24-hour

low of $140.12 and recorded a high of

$145.54. The $140 price point comes off

as the lowest Solana has recorded in

the past month.

As it stands, the $141 price point if serving as a key support to prevent further slumps. The tides turned swiftly for SOL following the selloff that Bitcoin has recorded recently. After trading for $163 over the past week, immediate succor is needed for long traders with liquidated positions.

Judging by the on-chain signals from TD Sequential indicator, Martinez posited that a buy signal has emerged on the daily chart. This is a bullish signs considering the SOL bears are facing exhaustion from selling. According to the analyst, if the $141 support holds, SOL might print 1 to 4 more daily candlesticks.

This insight is crucial for the coin as it might help market watchers gauge the potential trends.

SOL Boost Amid Memecoin Revolution.

Every blockchain protocol have their go-to catalyst for growth. Despite the many Solana congestion challenges suffered in the first quarter, Solana is back on its feet with a mainnet fix.

One of the most ambitious ways to showcase this strength is through memecoin explosion. While Ethereum (ETH) and Binance Smart Chain (BSC) has their run, Solana is now reigning as the memecoin network to watch.