Let's dive into Solana's technical analysis. The price is consolidating between $120 and $160, indicating a stable market structure. Although it's flagging slightly, I believe Solana will hold up well, potentially dropping to $137 before finding support.
In the short term, I expect a recovery toward $155-$160. Against Bitcoin, Solana has broken out, but remains short-term bearish post-'Breakpoint.' While fundamentals have improved slightly, the short-term outlook remains bearish due to economic events and market corrections. I predict support around $140 before potential rallies later.
Long-term, I'm optimistic. A gradual momentum build is expected, leading to possible rallies, but it hinges on fundamentals and market conditions unfolding.
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