CandleFocus Solana (SOL) Could Crash 40% If It Stays Below $140 – Top Analyst Shares Insights
2024-09-19
Author: Content Editor
The article discusses the current performance and outlook for Solana (SOL) in the cryptocurrency market. Despite the broader market rebounding, SOL is struggling to break above the $140 resistance level, causing concern among investors. Analysts predict a potential deep retracement to the yearly low of $78 if SOL continues to underperform. The article highlights a technical analysis by Amdtrades, who states that SOL is at a crucial crossroads and failing to break past $140 could lead to a deep correction. If SOL can break and hold above $140, it may spark a recovery and reverse the negative trend. Currently trading at $130, the $140 mark coincides with the daily 200 EMA, which has now become a resistance level. Bulls must reclaim this level for a bullish reversal, while failure to do so could lead to a more bearish outcome, potentially resulting in a 15% drop towards $110.
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