#SOL Price Prediction: $300 Is No Longer the Target

From the daily chart, another key indicator - Balance of Power (BoP) has fallen into negative territory. BoP is a price-based indicator used to measure the strength comparison between bulls and bears.

When the BoP indicator rises and is positive, it means that bulls are in control. However, in the current situation, bears seem to be in control. If this trend continues, the price of SOL may drop below $225.

According to the Fibonacci retracement indicator, if the downward trend continues, SOL may retrace to the 23.6% retracement level, which is about $222. In an extremely bearish scenario, the price could even drop to $200.

However, if buying pressure increases, the current downside risk may be reversed. In this case, the price of SOL is expected to rebound and rise to $265. #solana生态 #sol趋势