Solana Headed For Correction Before Bounce – Analyst Sets $180 Target

Quick Summary:

Runefelt’s analysis emphasizes the importance of this support level in fueling Solana’s potential for gains, suggesting that it could serve as a springboard for a substantial rally.  If SOL successfully holds above $160, a surge to test local highs would not only reinforce confidence among investors but also set the stage for Solana to push into new territory if broader market conditions remain favorable.

This level is pivotal for SOL, as losing it could trigger a deeper correction, putting the altcoin at risk of further downside.  However, prominent analyst Carl Runefelt has shared technical analysis indicating that Solana may be primed for a brief correction before staging a rally to retest local highs.

In this uncertain landscape, Solana remains a focal point for investors who see an opportunity if support holds steady.  Solana Holding Key Demand Level Solana (SOL) has emerged as one of the stronger-performing altcoins this cycle, drawing significant attention as it tests a key demand level that could drive it toward new highs.

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Author / Journalist: Sebastian Villafuerte

Category: Crypto

Markets: United Kingdom

Topics: Solana Solana demand Solana Price Solana Analysis SOLUSDT Sol Solana Technical Analysis Solana correction Solana news

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Article Type: News Report

Published On: 2024-11-02 @ 16:30:36 (10 hours ago)

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News Source URL: newsbtc.com

Language: English

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News ID: 23370950

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