CandleFocus Can Solana Hold Support or Plunge Below $140 Amid Market Volatility?
2024-10-07
Author: Content Editor
The article discusses the recent price recovery of Solana (SOL) and analyzes the potential for a drop in price below the short-term rising channel. The recovery rally peaked at $150.39, but a rejection caused a negative cycle within the channel. Currently, SOL's price is trading at $146.95 and approaching the 200-day EMA and support trendline. The article suggests that a breakdown below the rising channel could lead to a drop to the $140.75 level, while a breakout rally could target $154.60 and potentially higher resistance levels at $160, $166.98, and $175.74. Overall, the article discusses both bearish and bullish scenarios for SOL's price.
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