Solana SOL The price of the asset has fallen 15% over the past seven days. Analysts are concerned that this slump may last longer. SOL and most other assets have had bullish predictions for September. However, the selling pressure is rife. SOL’s price is currently trading over a key support level, which may be crucial to the token’s future. This support could push the token to new highs if it holds.
Solana’s SOL currently sits above an important support level, which is around $128. This asset did well in past tests to hold above this level, and must maintain this position to get back to rates from earlier this summer. SOL still has a good outlook, just as it did throughout the entire year, even on bearish markets.
Solana SOL Remains above crucial monthly support, despite falling prices
Kaleo is a cryptocurrency analyst and trader who recently shared a new report.echnical analysis on X. The forecast predicted a decline in price from the local high of last week to approximately $120-$128 before possible new highs. Kaleo’s charts are similar to SOL’s current chart, showing patterns that show big gains immediately following a fall. Kaleo thinks that each time the asset climbs back up, it will gain more momentum.
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SOL’s short-term recovery depends on a return to the $140 range. Kaleo’s prediction is that SOL will be able to reclaim higher levels by weekend if Bulls gain control. This token’s trading volume has dropped in the last day, leading to a 2% drop in price. Kaleo is expecting a steep rise in the price of its asset, but if there’s a surge in activity it could happen.
The negative trend around Solana SOL can be shifted by reclaiming and maintaining an exponential moving mean of $147.78. Then, an even more dramatic upward trend is possible. If SOL is unable to hold the $127-level support, the next major liquidity level would be at around $10. The levels are crucial to investors in predicting the near-term future of Solana’s token. It has been one the most successful coins of 2024.
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Source: watcher.guru
