Ethereum Rival Altcoin is at a Critical Threshold: Which Price Levels to Watch?
The cryptocurrency analyst included a remarkable technical analysis for Solana (SOL).
Cryptocurrency analyst with the pseudonym Credible Crypto reviewed Solana in a recent post on X. Pointing to $140 as support for SOL, the analyst argued that the decline could deepen if this level could not be held.
The analyst predicted that if the $140 support is broken by a hard sell, the price could drop to $115. He stated that Solana's current situation is quite similar to the current situation of Dogecoin (DOGE).
There is another possibility
Drawing a bullish scenario in addition to his bearish analysis, the experienced name stated that if the $158 resistance is exceeded, the price could climb up to $230.
While mentioning that the current situation is a critical area for Solana, he emphasized that the general trend in the market may have an impact on the price:
LEFT, just like DOGE, is also at the make-or-break level I outlined a few weeks ago. This is the last thing stopping us before the decline continues to the $115 range. I'm completely sold out here and waiting to see what kind of response we get, as per my last tweet this is the area most likely to see some relief.
According to CoinGecko data, SOL, which has decreased by 7% in the last 24 hours, is traded at $ 150 at the time of writing.