One of the cryptocurrencies you must buy in August 2024
Solana became a favorite among institutional investors in July as it became the altcoin with the highest inflow after Ethereum. As of July 26, SOL has accumulated $27.6 million in inflows, outperforming Litecoin, XRP, and Chainlink.
This may help SOL successfully achieve the 31% upside target presented by the bullish double bottom pattern. As a result, Solana's price may reach $245.
However, this bullish thesis may be invalidated if the current decline continues. SOL has fallen 11% in the past five days and is trading at $164. It may fall to $150 or lower.
