In a post, popular TradingView analyst Alan Santana notes that after four weeks of bearish activity, Solana's (SOL) buy zone has been activated. While noting that a test of the EMA55 as support could still occur before a potential bullish wave resumes, Santana says, "The chart looks good."

At the time of writing, SOL is trading at approximately $180.53, down 9.3% in the past 24 hours and correcting 17.96% in the past 7 days.


Solana Correction: A Strategic Opportunity for Growth
Santana's analysis highlights that for investors, the ongoing decline is a turning point. The pullback has turned into a correction. The correction paves the way for a fair pricing of new purchases, he stated. Emphasizing hope, he pointed out: "Corrections create a new buying opportunity." With these conclusions, Santana revealed his own stance and took a long position in the SOLUSDT pair using significant leverage. According to his projection, Solana's growing momentum will follow past trends characterized by several months of increases, a pullback, and further long-term increases.

The long-term development of Solana appears to be truly promising. Since December 2022, Santana claims that the coin has been on an upward trend with more ups and downs. A short-term increase from August 2024 further supports this encouraging trend.

Santana believes that Solana's trend of higher lows will continue for an unknown period despite market changes.



Meanwhile, institutional interest in Solana continues to grow in Europe. According to CNF, Bitwise has launched a Solana staking ETP in the area to provide more benefits to investors. Innovative financial products based on Solana are benefiting European investors, while regulatory hurdles in the U.S. have slowed comparable advancements.

$SOL