End Of The Road For Solana? Analyst Predicts 77% Price Crash To $40

Quick Summary:

Analyst Predicts Massive Crash For Solana AlanSantana observed that Solana’s trading volume has dropped significantly between September and October 2024, a development that often signals a bearish outlook and may suggest an upcoming downward price impulse.

Interestingly, a crash below $50 will effectively cancel out the gains in the past year and would return the cryptocurrency to its price range in November 2023.  SOL Whales Continue With Activity Solana is still largely in a bullish mode despite the decline in trading volume that was pointed out by AlanSantana.

Inferring from this outlook, this suggests that the volume trend is pointing towards demand tapering off.  Related Reading: Bitcoin Price Breaks Out Of 7-Month Descending Broadening Wedge Pattern For Continuation Above $70,000 The analyst also draws a contrast with last year’s trading activity, specifically from September to November 2023, when Solana’s volume was on the rise.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: SOL news Solana Analyst SOL Price Crypto analyst Solana news Solana Price SOLUSDT Sol Crypto news Crypto SOLUSD

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 22:00:20 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 478 words

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Sentences: 64 lines

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Copyright Owner: © NewsBTC

News ID: 23342718

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