CandleFocus Solana Headed For Correction Before Bounce – Analyst Sets $180 Target
2024-11-02
Author: Content Editor
Solana (SOL) is currently trading around the $165 level, which is a crucial support zone for the altcoin. Analyst Carl Runefelt believes that Solana may experience a brief correction before rallying to retest recent highs. This bullish setup relies on Solana maintaining support at $165. Solana has been performing well and drawing attention as it tests this key support level. If Solana successfully holds above $160, it could surge to test local highs and potentially enter new territory. The coming week, with the US election and Bitcoin's movements, could be pivotal for Solana. The $160 level will be closely monitored by investors, as it could reinforce SOL's bullish structure or signal the need for further consolidation. Overall, the next few days will be important in determining Solana's strength at $160 and its potential for upward movement.
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