Solana Flashes Strong Bearish Signal – Is a Drop to $90 Imminent?

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In the anticipation that Solana (SOL) may resume its upward trend to challenge the $200 barrier once more, a financial expert advises investors to brace themselves for potential turbulence in the near future.

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Technical Analysis: Alan Santana’s Bearish Prediction for Solana

Cryptocurrency analyst Alan Santana noticed a strong bearish indication for Solana’s DeFi token in August 2024, potentially indicating a more substantial drop in its value.

Historical Parallels: Comparing SOL’s Current Patterns to July 2023

As a crypto investor, looking back at July 2023, I recall a remarkable period where Solana’s price surged for over 45 consecutive days. This steady rise culminated in a substantial increase in bullish volume, signaling the start of an impressive upward trend. The surge in interest from buyers was unmistakable, propelling Solana’s value to unprecedented highs.

Approximately a year past, the analyst noticed a shift in the situation. By August 2024, following 140 days of decreasing prices, Solana exhibited a significant surge in bearish trading volume. This trend hints at the persistence of the current downward trend, and the price activity aligns with this pessimistic forecast.

If the current bearish trend persists, Solana might be trending towards the $90 mark – an important support level due to its historical trading activity. The upcoming days will play a vital role in deciding whether Solana can regain stability or if it may plunge further to reach $90.

Bottom Line

In the face of Solana exhibiting signs of a downturn, innovations such as Pawfury demonstrate the creativity thriving within the cryptocurrency sector. By utilizing proven tactics and staying attentive to upcoming pre-sales, investors might discover lucrative opportunities even during turbulent market periods.

Keep in mind that even though Pawfury offers a profitable presale, affordable entry point, and an additional 10% bonus, it’s crucial for investors to carry out independent research and thorough investigation before making any investment decisions.

I personally want to share that this content is sponsored. The opinions expressed here are based solely on the sponsor’s perspective and I strongly advise readers to perform their own thorough research before making any decisions or taking any actions based on information provided in this article, as my own life experiences have taught me the importance of being well-informed.

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2024-08-13 04:26