đ„ Solana is at a Crucial Point as SOL Eyes a Rebound to $160
With the crypto market crash behind us, several tokens are trying to regain stability, including Solana (SOL), which is at a crucial juncture. SOL is eyeing a potential rebound to $160 but also risks further losses.
Geopolitical concerns caused a $2 trillion crash in the US stock market, and Japanâs market suffered its largest single-day loss ever, impacting the cryptocurrency sector. However, attention is now on how these assets might recover.
Solana faces a potential rebound, possibly reaching $160, despite the recent crypto decline that nearly erased 2024 gains. Bitcoin, for example, fell from $70,000 in July to $56,600, a drop of over 14% in seven days, but has rebounded somewhat along with Solana. Crypto analyst Ali Martinez noted a "sell" signal on Solanaâs hourly chart, suggesting a drop to $130 unless it breaks above $146, which could lead to a positive target of $150 to $166.
In the last 24 hours, Solana has risen over 10% according to CoinMarketCap, though it's still down more than 19% at $147. Whether it can sustain a rally depends on maintaining its current level, potentially setting the stage for further gains.
