📉 Recent Market Trends
Solana ( $SOL ) has seen a 15% drop after its November high of $263, reflecting the broader market's bearish sentiment. Currently trading around $185, SOL struggles to maintain momentum as Bitcoin (BTC) trades below $95,000.
🛡️ Key Support and Resistance Levels
SOL hovers near the critical $175-$180 support zone. A breakdown below this level could see the price dip to $170 or lower. However, a bounce from this zone could drive SOL back above $200, with an eye on the previous ATH of $263.
📈 Bullish Breakout Potential
Crypto analyst Captain Faibik highlights a bullish pennant formation on SOL's weekly chart. If buyers step in, SOL could rally towards $400. The MACD indicator on the 4-hour chart shows a green histogram and a bullish crossover, signaling potential upward momentum.
💡 What’s Next for SOL?
The market remains at a crossroads. A successful rebound from current support levels could set the stage for a breakout rally to $400. Conversely, a failure to hold support might deepen the correction.
Top comments (1)
Hi David.
Thanks for sharing your article.
It would be very difficult to guess sol price, as well as any other token prices.
But I am sure almost all currencies are on the increase of their value.