Solana Technical View - Should You Buy This Dip?
Solana's native token (SOL) currently sits at number 5 with a market cap of $65.2 billion, facing a sizable gap to close against BNB, which has a market cap of around $85 billion.
Currently, the token is experiencing a dip, with its price moving below the $146 level. Recently, the crypto started an uptrend in the past week but failed to stay above the $150 level.
This came after a sharp April decline from its 2024 high of $210. The medium-term outlook for SOL appears bullish, maintaining an upward trajectory.
Overall, the technical analysis suggests that SOL has the potential for further growth in the medium term.
However, breaking key resistance levels and maintaining upward momentum will be crucial for achieving Franklin Templeton's ambitious forecast of a top-three ranking.
