320 WYATT
--
Bearish
$SOL
{spot}(SOLUSDT)
šØSolana Price Faces Crash to $120 Amid Bearish Rounding TopšØ
Solana has been dropping for the last seven days. This crash has brought its seven-day drop to 12%. Bears have been dumping their tokens without much of a rush. Because of this, the drop has been gradual and created a rounding top.
When there is a sudden spike in selling, one would expect Solana price to rebound quickly. That is because there will be uncollected liquidity that traders will begin to hunt. But now, there is no chance of this happening. The fall has not left any gap that bulls might exploit.
From the peak of $206 to support at $159 is a 22% fall. This drop will be replicated again when the SOL price falls under $159. It is only a 2.45% decline from todayās price. Considering that weekend swings are often unkind to bulls, losing this support might happen this weekend.
In this case, it is possible for the Solana price to reach $120. Most likely, August might not end without SOL touching this price. This will likely be the case if bears tighten their grip on the market like they are doing now.
Nevertheless, this Solana price forecast does not lack an invalidation. The AO bars are turning green even if they remain negative. Oftentimes, this indicates that sellers are getting tired. However, this will only be confirmed if these bars move above zero.
#solana320 #Trendingissue #Trendingcoin320 #mr320 #Binance320
{spot}(SOLUSDT)
šØSolana Price Faces Crash to $120 Amid Bearish Rounding TopšØ
Solana has been dropping for the last seven days. This crash has brought its seven-day drop to 12%. Bears have been dumping their tokens without much of a rush. Because of this, the drop has been gradual and created a rounding top.
When there is a sudden spike in selling, one would expect Solana price to rebound quickly. That is because there will be uncollected liquidity that traders will begin to hunt. But now, there is no chance of this happening. The fall has not left any gap that bulls might exploit.
From the peak of $206 to support at $159 is a 22% fall. This drop will be replicated again when the SOL price falls under $159. It is only a 2.45% decline from todayās price. Considering that weekend swings are often unkind to bulls, losing this support might happen this weekend.
In this case, it is possible for the Solana price to reach $120. Most likely, August might not end without SOL touching this price. This will likely be the case if bears tighten their grip on the market like they are doing now.
Nevertheless, this Solana price forecast does not lack an invalidation. The AO bars are turning green even if they remain negative. Oftentimes, this indicates that sellers are getting tired. However, this will only be confirmed if these bars move above zero.
#solana320 #Trendingissue #Trendingcoin320 #mr320 #Binance320
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.Ā See T&Cs.
1
0