Solana Price Prediction – This Chart Pattern Often Means Trouble… Will SOL Break Below $146?
The Solana price (SOL) has gone up in the past week as market sentiment has stabilized following a cease-fire between Israel and Iran.
The Fear and Greed Index has improved from a low of 37 (Fear) to 50 at the time of writing as investors have adopted a Neutral attitude in expectation of the next big catalyst that could confirm the direction of crypto prices for the next few weeks.
SOL is the best-performing token of the top 5 in the past 7 days with gains of 12.1% and its price currently sits at $150.51.
However, a well-known trader called Ali Martinez, predicted that SOL could drop to $146 as he believes that the latest uptrend has reached a phase of exhaustion.
Martinez used an indicator called the TD Sequential, which finds early signals of a trend reversal. In the 4-hour chart, it appears that a sell signal has popped up. This favors a short-term bearish Solana price prediction.
Using a Fibonacci retracement, Ali predicted that SOL could drop to $146 first and enter areas of heavier discounts at around $140 if the downtrend accelerates.
Trading volumes have gone up by nearly 20% in the past 24 hours as SOL has gone down by 0.7% which could be early confirmation that selling pressure is rising.
Solana Price Prediction: SOL’s Outlook is Still Bullish in the Mid-Term
This view is consistent with what’s going on in the daily chart as the price has jumped back above $140 recently.
This is a key area of support that has not been retested yet and that the market could hunt in the next few days before its next leg up to $185.
In this higher time frame, we can see that the 9-day and 21-day exponential moving averages (EMAs) seem poised to make a bullish crossover. This favors a short-term push to higher levels.
Hence, although SOL could drop below $146 at some point, a retest and bounce off $140 would confirm a bullish Solana price prediction.
As a long-term investment, Solana is still quite attractive amid the rising popularity of meme coins and a rapidly expanding DeFi ecosystem.
However, the most attractive investments in the crypto space are found among the hottest presales like SUBBD (SUBBD).
SUBBD (SUBBD) Nears $1M Raised to Launch Its Decentralized Content Distribution Platform
SUBBD (SUBBD) aims to launch a new platform that changes the way in which creators are compensated and how they monetize their content with the help of artificial intelligence.
Through a decentralized solution powered by the $SUBBD token, this project will get rid of issues like unfair bans and high platform fees that have prevented creators from earning more money.
The $SUBBD token will give influencers a say on moderation policies and other key project roadmap matters while fans will benefit from using it by receiving subscription discounts, early access to new features, and the possibility of making custom requests.
Once this platform gains traction, the demand for $SUBBD will skyrocket. More than 2,000 creators have already joined it and they will bring a combined following of 250 million fans once the project is live.
To buy $SUBBD at its discounted price to reap the highest returns, head to the SUBBD website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH for this token or use a bank card to invest.
The post Solana Price Prediction – This Chart Pattern Often Means Trouble… Will SOL Break Below $146? appeared first on Cryptonews.
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Solana Price Prediction – This Chart Pattern Often Means Trouble… Will SOL Break Below $146?
The Solana price (SOL) has gone up in the past week as market sentiment has stabilized following a cease-fire between Israel and Iran.
The Fear and Greed Index has improved from a low of 37 (Fear) to 50 at the time of writing as investors have adopted a Neutral attitude in expectation of the next big catalyst that could confirm the direction of crypto prices for the next few weeks.
SOL is the best-performing token of the top 5 in the past 7 days with gains of 12.1% and its price currently sits at $150.51.
However, a well-known trader called Ali Martinez, predicted that SOL could drop to $146 as he believes that the latest uptrend has reached a phase of exhaustion.
Martinez used an indicator called the TD Sequential, which finds early signals of a trend reversal. In the 4-hour chart, it appears that a sell signal has popped up. This favors a short-term bearish Solana price prediction.
Using a Fibonacci retracement, Ali predicted that SOL could drop to $146 first and enter areas of heavier discounts at around $140 if the downtrend accelerates.
Trading volumes have gone up by nearly 20% in the past 24 hours as SOL has gone down by 0.7% which could be early confirmation that selling pressure is rising.
Solana Price Prediction: SOL’s Outlook is Still Bullish in the Mid-Term
This view is consistent with what’s going on in the daily chart as the price has jumped back above $140 recently.
This is a key area of support that has not been retested yet and that the market could hunt in the next few days before its next leg up to $185.
In this higher time frame, we can see that the 9-day and 21-day exponential moving averages (EMAs) seem poised to make a bullish crossover. This favors a short-term push to higher levels.
Hence, although SOL could drop below $146 at some point, a retest and bounce off $140 would confirm a bullish Solana price prediction.
As a long-term investment, Solana is still quite attractive amid the rising popularity of meme coins and a rapidly expanding DeFi ecosystem.
However, the most attractive investments in the crypto space are found among the hottest presales like SUBBD (SUBBD).
SUBBD (SUBBD) Nears $1M Raised to Launch Its Decentralized Content Distribution Platform
SUBBD (SUBBD) aims to launch a new platform that changes the way in which creators are compensated and how they monetize their content with the help of artificial intelligence.
Through a decentralized solution powered by the $SUBBD token, this project will get rid of issues like unfair bans and high platform fees that have prevented creators from earning more money.
The $SUBBD token will give influencers a say on moderation policies and other key project roadmap matters while fans will benefit from using it by receiving subscription discounts, early access to new features, and the possibility of making custom requests.
Once this platform gains traction, the demand for $SUBBD will skyrocket. More than 2,000 creators have already joined it and they will bring a combined following of 250 million fans once the project is live.
To buy $SUBBD at its discounted price to reap the highest returns, head to the SUBBD website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH for this token or use a bank card to invest.
The post Solana Price Prediction – This Chart Pattern Often Means Trouble… Will SOL Break Below $146? appeared first on Cryptonews.
Read More
Solana Price Prediction – Institutional Investor Includes Solana in $100 Million Strategic Fund: Is Wall Street Warming Up to SOL?