CandleFocus Solana (SOL) Price Enters ‘No Go Area,’ Points to Sub-$130 Levels
2024-10-03
Author: Content Editor
The Solana (SOL) price has been steadily declining since September 30 and recent data suggests that it may continue to drop. The token's Sharpe ratio, which measures risk-adjusted return, has fallen to -1.11. This indicates that buying SOL at its current value might not result in a positive return on investment. The Chaikin Money Flow indicator also suggests a bearish trend, with sellers dominating the market. SOL has lost almost 15% of its value since September 30 and is currently priced at $135.52. If the token fails to hold the $130 support line, it may fall further to $124.92. However, if bulls defend the $130 region, SOL's price could potentially rise to $161.95.
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