CandleFocus Analyst Speculates Solana Will Retest $180 if This Major Support Holds
2024-11-05
Author: Content Editor
The market analyst Trader-Saylor believes that Solana will retest its late October highs if it can hold the support zone from its long-term uptrend line. Solana recently reached a three-month high of $182 but faced a rejection and fell over 9% to its current price. Trader-Saylor attributes this correction to global economic unrest, surging inflation, and the Federal Reserve's unwillingness to cut interest rates. However, the analyst suggests that Solana could still retest levels above $180. Another analyst, Jappier 24, also sees potential for Solana to trend higher and expects an imminent breakout from a bullish expanding triangle, pushing the price to $174.12 and potentially $200 within the month. As of now, Solana is trading at $163.15 and has seen a significant increase of 292% in the past year.
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