As a seasoned researcher with a background in cryptocurrency analysis, I’ve spent countless hours studying market trends and price movements. Based on my observation of the current situation, some coins are showing signs of recovery, while others, like Solana (SOL), continue to struggle.
Certain coins are experiencing a rebound, but some continue to trade at a loss based on data from CoinMarketCap.
SOL/USD
The rate of Solana (SOL) has dropped by 1.30% over the last 24 hours.
As an analyst, I’ve been observing the hourly price action of Solana (SOL) and it appears to be displaying bearish signs. Should this trend persist, we could potentially witness a breach of support levels leading to a significant drop towards the $148-$149 zone.
Yesterday’s gain for Bulls hasn’t been maintained. If today’s candle ends around $145, there’s a likelihood of a dip towards the $140 region. This situation persists till the week concludes.
As a cryptocurrency investor looking at the medium-term outlook, I haven’t seen any clear signs of a trend reversal just yet. For now, it’s essential to keep an eye on the price action around the $140 mark.
As a crypto investor, if the weekly candle closes beneath that level, I would prepare myself for potential corrections that could push the price down towards the $120-$130 range before the month concludes.
SOL is trading at $149.30 at press time.
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2024-06-13 17:08