Keep Solana (SOL) below $140 and it might fall 40%

Solana (SOL) faces danger as the cryptocurrency market recovers from local lows, but it fails to break over $140 barrier. Investors are concerned about Solana's underperformance during the market's recent rally.

If the stock continues to underperform, some experts forecast a severe retrace to its annual low of $78. After staying steady despite Bitcoin and other cryptocurrency losses, Solana's price behavior signals a correction is coming.

SOL might fall more if it fails to break over $140 and join the market's rebound. Solana has survived market upheaval better than some of its counterparts, but there is a growing notion that it may soon tumble. Future moves are closely watched by investors.

Solana Struggles to Stay Bullish

Many cryptocurrencies gained double-digits this week, while Solana (SOL) retraced nearly 7%. Investors worry SOL may follow several cryptocurrencies' recent trend.

After 9 years as an analyst and asset manager, Amdtrades published a technical analysis of Solana's price behavior, noting several problematic price objectives.

Solana faces a critical moment, says Amdtrades. A significant drop may follow if it fails to break beyond $140 barrier, a fundamental price point that formerly supported it. He said $115 is the first significant mark to monitor for more fall.



SOL might drop to $100 or even $78 after that. The price decline would be a 40% correction from current levels.

If Solana struggles while other cryptocurrencies recover, it might reach these lows. Amdtrades also predicted a comeback.

SOL might reverse the downward trend if it breaks and holds over $140. Investors are eyeing these levels to see whether Solana will drop down further or recover.

Watch SOL Prices

SOL is at $130, a key milestone for its next move. After hitting $140 barrier, the stock fell 7%, worrying traders.

Since October 2018, the daily 200 exponential moving average (EMA) at $139.26 has supported the $140 barrier, but it has now become resistance.

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