With the native token of Solana facing an immense wave of supply, the market value of the SOL token plunged to 3% this week. Under the rising tensions of global affairs and the BTC price back at $65000, the altcoins could witness a landslide. Despite the correction, the SOL price is preparing for a turnaround with a bullish pattern visible on the charts. Will the altcoin resurface above $200 with a breakout run or a fall to $150 is inevitable?
Also Read: Solana Price Forecast: Will SOL Hit $200 Soon Amidst Bullish Signals and Growing TVL?
Solana Price Eye $180 Neckline for Bullish Reversal
Solana Price| Tradingview
After a rapid upward movement, the Solana price is witnessing a pullback as buyer momentum wanes. This pullback, following the breach of the $200 level, has resulted in a 22% decline, establishing a support trendline around the $160 mark.
With the minor setback in the Solana market price, the daily chart projects a triangle formation as the volatility contracts. Furthermore,
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