Solana Analyst Expects A Retrace Before It Breaks ATH – Targets Revealed

Quick Summary:

Crypto analyst Johnny recently shared his perspective on X, highlighting that while Solana’s price action remains robust, a temporary retrace to lower levels may be necessary to gather momentum.  According to his technical analysis, SOL could dip into the $220 demand zone, a level he sees as crucial for buyers to step in and refuel the rally.

The rally has caught the attention of traders and investors alike, as SOL’s price action showcases a strong uptrend.  Top crypto analyst Johnny shared his technical analysis on X, predicting that Solana may retrace to its previous yearly highs before launching a new attempt to break its all-time highs.

This forecast comes during a period of euphoria, with SOL delivering a stunning performance by soaring over 55% in less than two weeks.  Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern – Analyst Reveals Target The rapid climb has positioned Solana as one of the market’s standout assets, driven by increasing demand and strong fundamentals.

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Article Details

Author / Journalist: Sebastian Villafuerte

Category: Crypto

Markets: United Kingdom

Topics: Solana ATH Solana news Solana price analysis Solana Sol Solana Pullback Solana Price Solana breakout SOLUSDT

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-19 @ 17:00:32 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 566 words

Reading Time: 4 minutes read

Sentences: 65 lines

Sentence Length: 9 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 23701949

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