The post SOL Price Fall Warns 30% Drop As Pullback Gains Momentum appeared first on Coinpedia Fintech News
With the weekly chart showcasing a bullish reversal for Solana, the ongoing slump in the market leads to a retest phase. Further, the SOL price loses the psychological mark of $100 and struggles to absorb the increased supply.
Therefore, the increasing selling signals and the overall weakness in market momentum warn of a deeper correction in Solana. Nevertheless, our SOL price prediction expects an overall bullish rally for Solana in 2024.
Source – TradingView
With a 10 week long bull run accounting for a 437% increase in SOL price, the altcoin crosses the $100 mark. However, the bullish exhaustion kicks in at the $125 mark with an increase in the overhead supply, resulting in a pullback.
The pullback phase comes as a retest of the crucial breakout levels as per the bullish group. However, the 20% drop in two weeks and the higher price rejections in the weekly candles warn o
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