Analyst Sounds The Alarm As Solana (SOL) Retests $210, Rebound Or Retrace Next?

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Analyst Sounds The Alarm As Solana (SOL) Retests $210, Rebound Or Retrace Next? - NewsBTC

Quick Summary:

Other market watchers pointed out that SOL is currently retesting the weekly and monthly timeframe resistance as support, which could see Solana go higher "as long as it holds.” Crypto analyst Jelle reaffirmed his $600 target for the cryptocurrency, noting that it "performed incredibly during the first year of the cycle” and will "be a winner again in the coming months.” Related Reading: Cardano Follows 2020 Bullish Pattern – Top Analyst Plans To Take Profits Between $4 And $6 Meanwhile, Bitwise’s latest report predicted that SOL could rally over 200% in 2025.

Nonetheless, SOL’s price has taken a blow in the past day alongside Bitcoin and the rest of the crypto market.Solana saw an 8.7% correction in the last 24 hours, falling to the $210 support level before dropping below it.

Failing to hold this zone would likely send the price to the pre-election resistance level of $180, which has not been tested as support since breaking above it over a month ago.