$SOL price prediction :
In the wee hours of Tuesday morning, #bitcoin $BTC price slipped below a crucial support level, resulting in a market-wide crash that saw Solana’s price drop to $127.95. This is the lowest price SOL has reached since early May 2024.
The price of Solana hovered around $137 a 7.5% decrease in the last 24 hours.
👉Bulls Maintain Form Despite Selling Pressure:
SOL price had previously been trending inside a symmetrical triangle. This type of market structure can resolve in either direction, but with some influence, has a higher probability of resolving in a given direction. Solana’s preceding trend was to the upside, which may be a major factor in determining how the symmetrical triangle resolves.
Solana still trading above the 200 EMA showing some struggle between bulls and bears. 200 EMA provides the support
A break to the upside from the symmetrical triangle may result a rally to $240. We can expect some resistance at ($156-157), $180-185 and $216. On the flip side, a downward scenario may find robust support around $126. Fairly strong support levels also exist around $87 and $56.
