SOL Price Prediction:
Solana (SOL) has experienced significant volatility, recently falling from $210 to around $116. Despite this correction, SOL's losses have remained relatively mild, down more than 43% for the month. To sustain the uptrend, SOL needs to hold support above the golden ratio level around $85. The cryptocurrency market is a rollercoaster ride, and Solana (SOL) found itself caught in the crossroads of this volatility.
After a sharp correction from around $210 to around $116 in recent weeks, the digital asset is now showing upside potential.
Despite the recent plunge, the correction in SOL prices has been relatively mild so far, with prices down more than 43% this month.
One of the key levels to watch is the important Fibonacci support range for SOL price between $125 and $130. Sustaining above this range would signal strong bullish sentiment and could pave the way for a rebound. Additionally, the 50-week exponential moving average (EMA) around $85 is an additional support level to monitor.
While weekly chart indicators paint a bearish outlook, with the MACD histogram trending down and the MACD line approaching a bearish crossover, the RSI remains in neutral territory, leaving room for potential upside momentum.
