š„š„š„ Solana ($SOL ) 180-Day Consolidation Set to Break: Massive Rally Just Around the Corner?
Solana (SOL) at a Crucial Juncture: Key Support Level Under Scrutiny
Solana (SOL) has held above $120 despite a 24% drop from recent highs. This $120 mark is crucial for its next move. If SOL can maintain this support, it might recover and rally. However, losing this level could signal a deeper correction.
Current Market Dynamics
Solana has been consolidating between $120 and $210 since March. Analysts, including top trader Curb, suggest that breaking this range could lead to a significant rally, potentially reaching $400-$500 and beyond.
Ecosystem and Institutional Interest
With a growing ecosystem of dApps, NFTs, and a strong developer community, Solana's long-term prospects look positive. The price is currently at $127.60, testing a demand zone between $122 and $135, but shows weak momentum below the 4-hour 200 MA at $143.76.
Key Levels to Watch
- For a bullish reversal, SOL needs to break above the 4-hour 200 MA and target $160. Failure to hold $120 could lead to a deeper correction.
Source - newsbtc.com
