Solana Analyst Sounds Alarm: Anticipates Significant Downturn in SOL in the Upcoming Months – Unveils Bearish Projection
Renowned crypto strategist Pentoshi, with a substantial following of 738,500 on X social media platform, updates his perspective on Solana (SOL), projecting a potential dip exceeding 40% from its present value in the upcoming months.
Expressing uncertainty about the depth of the decline, he anticipates a favorable entry point in the $70s, emphasizing both trading and holding ecosystem coins for the next year. Examining his chart, Pentoshi envisions Solana reaching around $70 by the end of March, followed by a subsequent rally towards $90. Currently trading at $99.64, reflecting a 13.27% increase in the last 24 hours, Solana attracts attention from two other influential crypto traders. Altcoin Sherpa, addressing his 204,900 followers, predicts potential corrections to Fibonacci retracement levels of 0.382 at $84.50 or 0.50 at $71.67.
Simultaneously, Rekt Capital, followed by 385,700 individuals, warns of Solana’s proximity to transforming a crucial support level at $98 into resistance, potentially leading to a decline into the $70 range.
Clever Robot News Desk 10th January 2024
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