$SOL Price Forecast: A Cautious Outlook
At the time of writing, Solana's price is trading around $142, hovering above the $137 support level. The short-term recovery of SOL from $130 to $162 earlier this month has nearly fizzled out. The cryptocurrency is likely to consolidate below $156, as it has in the past.
Should the $137 support level be breached, the altcoin could eventually drop to $126, which serves as a crucial support level. A rebound from this point would reinforce the broader range between $186 and $126.
However, the outlook could shift if a gradual recovery allows Solana to reclai the $156 support level. While SOL might not fully recover from the 30% decline since July, it could still rally to $169,potentially invalidating the bearish outlook. $SOL