Plunge

Solana

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/solana-price-analysis-with-sol-price-struggles-for-a-bull-wave-will-sellers-plunge-it-to-15/">Solana Price Analysis: With SOL Price Struggles For&nbsp; A Bull Wave, Will Sellers Plunge It To $15?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Despite spending the majority of 2023 in the sideways lane, Solana maintains a year-to-date growth of 112%. One of the few blue-chip crypto to maintain a triple-digit YTD growth, the SOL price trend promises a short-term recovery rally.&nbsp; 
Currently, the SOL price remains trapped in a falling channel, a 24% correction drops the crypto to $20. With buyers attempting to bounce the SOL price back higher, the bullish wave prepares a launch from the support trendline.&nbsp; 
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Currently trading at $20.72, SOL price suffers a 4.45% drop, losing its recent gain in the market recovery, fueled by Grayscale’s legal win. Despite the 24-hour crash, the SOL coin price clings to the 38.20% Fibonacci level. 
Moreover, a short-coming support trendline creates a demand confluence with the 38.20% Fibonacci level.&nbsp; 
Coming to the technical indicators, the MACD indicator highlights a bullish signal with a positive crossover. The daily RSI line struggles to cross above the halfway line while maintaining a recovery.&nbsp; 
Considering the buyers manage to hold off the correction above the support confluence at $20, the SOL prices are set to skyrocket. The bullish wave will rechallenge the resistance trendline at $23 and potentially reach $28 with a breakout.&nbsp; 
On the flip side, a breakdown below $20 will mark a bearish stage for Solana, starting a deeper correction. With a 10% drop, the downtrend can test the bullish dominance at $18.45.

Solana Price Analysis: With SOL Price Struggles For A Bull Wave, Will Sellers Plunge It To $15?

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