📉 Concerns About Increased Volatility of Solana
📊 Trader Kaz The Shadow recently shared a comprehensive market overview and warned investors of the expected increase in volatility during the week. He emphasized that people without experience in dealing with market fluctuations and complex movements should exercise caution or consider reducing the size of their trades.
📈 Analysts have differing opinions regarding the short-term direction of Solana's activity. Jelle forecasts a potential Solana retracement, suggesting that the cryptocurrency may fall to $70 during the ongoing bull market. This analysis implies that after successfully testing the $70 support level, the final upward trend will continue.
📉 Pentoši shares a similar opinion, predicting that Solana will be sold down to the $70 level before recovering and continuing its growth. Amidst this uncertainty, these analysts agree on the possibility of a short-term pullback of the Solana altcoin before it shows any bullish momentum.
🤔 However, not all analysts share an optimistic view of Solana's near future. Crypto Dog presents a theory proposing that the market might be approaching the peak of the current cycle. If this perspective is correct, given the proximity to Bitcoin's halving process, it would be an unprecedented situation.
📈 Crypto Dog associates the recent market rally with expectations surrounding the Bitcoin ETF and notes that the catalyst is likely to continue its effect.
💹 At the time of writing, the price of Solana has not dropped to the $70 level mentioned by analysts. The price rebounded from the $85 level. The current cost of SOL is $99.
🤝 My friend and I also choose Solana for investment. I trade on WhiteBIT, while my friend, opting for diversity and a wide range of assets, decides Gate.io. He bought a significant amount of BONK there, which showed good results with a +10% increase in a week and a total growth of 10939.21% over time. But what awaits it in the future? 🚀
