Analyst Believes Solana (SOL) Could Hit New High
According to trader Crypto Tony, as long as Solana (SOL) is trading above $75, the cryptocurrency remains in a bullish position. In a separate post, the trader added a weekly chart of SOL indicating that the price could soon rise above $140.
SOL recently experienced a significant pullback following the token's rise above $100. Then the price of SOL fell to $92.95; on January 13, the decline in SOL continued to $90.92 due to increased selling pressure.
Despite this, the bulls attempted to raise the price by capitalizing on the same region and using it as support. On January 14, the price of SOL recovered to $98.
If Solana holds above the lower Bollinger Bands (BB) band, the token's value could rise to $104.07. However, this will only happen if the bulls remain present in the market.
