The analyst does not rule out the price of Solana falling to a minimum of $70
Cryptocurrency analyst Bluntz Capital has suggested that Solana's recent price movement could indicate a sharper drop in the value of the digital asset amid prevailing bearish market conditions.
SOL looks like all these weeks of sideways movement have been some kind of wave B triangle. I'm interested in low prices again at $70,â the analyst wrote on Twitter, which is banned in Russia.
If the altcoin price falls to $70, this will be the lowest level for Solana since mid-December 2023. According to CoinGecko, on the evening of January 22, Solana was trading at $85. Over the past 24 hours, the SOL rate decreased by 7.8%; on the weekly chart there was a minus of 10.8%.
During the cryptocurrency market recovery last year, Solana was one of the main beneficiaries of the price explosion recorded at the time. In addition to the increased influx of capital into the network, Solana has also benefited from a surge in interest in blockchain.
