CandleFocus Solana Targets $150 as Whales Accumulate Amid Market Recovery
2024-09-10
Author: Content Editor
The article discusses the recent performance and potential future movements of Solana (SOL), a cryptocurrency. The crypto market has experienced a bounce back, with Bitcoin reclaiming the $58,000 mark. Solana has shown a 3.58% increase in the past 24 hours and is currently trading at $132. However, the Solana price struggles to surpass the 20-day EMA and the daily EMAs remain bearish. Despite this, the MACD indicator suggests a bullish crossover. In the 4-hour chart, there is potential for a rounding-bottom reversal, with a possible bullish continuation above the 38.20% Fibonacci level at $141. A Solana whale has made a significant purchase of tokens and has also staked a large amount, while another whale has been consistently selling. The article concludes by stating that the Solana price is struggling to surpass the 23.60% Fibonacci level at $137 and a bullish breakout could lead to a surge to the $150 mark.
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