CandleFocus Solana Falls As It Threatens To Drop To $185
2024-12-04
Author: Content Editor
The price of Solana (SOL) has faced selling pressure and been rejected at its high of $240. The altcoin has broken the 21-day SMA support and is expected to continue falling. It is projected to reach a low of $185 based on a retracement pattern. Solana is currently valued at $228 and is approaching the 50-day SMA support. The moving average lines are still leaning north, indicating potential for recovery. Technical indicators suggest key supply zones at $200, $220, and $240, and key demand zones at $120, $100, and $80. The 4-hour chart indicates that Solana will continue to fall and reach a low of $185. This analysis should not be considered as investment advice.
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