Solana

Rekt

Experienced cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">analyst</a> Rekt Capital drew attention to the possibility of a sharp decline in Solana (SOL), which is considered as the rival of the largest altcoin Ethereum (ETH), and warned investors. The analyst also shared expectations for <a href="http://en.coin-turk.com/btc-and-doge-cant-get-enough-of-good-news-new-development-for-bitcoin-comes-from-twitter/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="http://en.coin-turk.com/the-impact-of-us-government-shutdown-on-cryptocurrencies/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>).
<h2 style="text-align: justify" id="strong-warning-about-solana-by-saying-history-repeats-itself-strong">Warning about Solana by Saying “History Repeats Itself”</h2>
Anonymous cryptocurrency analyst Rekt Capital stated on his personal X (formerly known as Twitter) account that if Solana cannot turn a key level into support, it could follow a previous price pattern downwards. In his warning about SOL, the analyst stated the following:
<blockquote>
 If history repeats itself, SOL could make a downward move reaching $30 (below the purple box) if it retraces above $42.86 (above the red). I don’t know if history will repeat itself, but I would personally be prepared for it.
</blockquote>
<img decoding="async" class="aligncenter size-full wp-image-273464" src="https://coin-turk.com/wp-content/uploads/2023/11/SOL-Solana-Altcoin-Analizi.jpeg" alt="" width="1200" height="851">
Furthermore, the analyst emphasized that the longer the price of the popular altcoin trades below the $42 level, the higher the probability of the expected decline. He said, “Solana is currently producing some upward wicks above approximately $42.86, indicating a retracement. If it continues to stay below this resistance, SOL may experience a deeper retracement over time.”
<img decoding="async" class="aligncenter size-full wp-image-273463" src="https://coin-turk.com/wp-content/uploads/2023/11/Solana-SOL-Altcoin-Analizi.jpeg" alt="" width="1200" height="851">
Looking at Rekt Capital’s shared chart, it can be seen that Solana is expected to experience a sharp decline similar to the price movement it made at the beginning of 2021 if it fails to surpass the $42 level. At the time of writing this article, the major altcoin is trading at $41.53 with a 5.21% increase in the last 24 hours.
<h2 style="text-align: justify" id="strong-according-to-the-analyst-bitcoin-aims-for-42-000-before-the-block-reward-halving-strong">According to the Analyst, Bitcoin Aims for $42,000 before the Block Reward Halving</h2>
Rekt Capital, also looking at Bitcoin, stated that he expects the largest cryptocurrency to rise towards the declining resistance trend line around $42,000 before the upcoming block reward halving. According to the analyst, BTC will likely retest this trend line (black) after the halving:
<blockquote>
 Bitcoin may break the black trend line resistance before the halving (orange circle). It will probably retest it as support after the halving (black circle).
</blockquote>
<img decoding="async" loading="lazy" class="aligncenter size-full wp-image-273462" src="https://coin-turk.com/wp-content/uploads/2023/11/BTC-Bitcoin-Kripto.jpeg" alt="" width="1786" height="1266">
The next halving, expected to take place in April 2024, will reduce the block reward amount in BTC received by Bitcoin miners by 50%. Continue Reading: <a href="https://en.coin-turk.com/crypto-analyst-warns-investors-about-the-possible-decline-of-solana-sol-and-shares-expectations-for-bitcoin-btc/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/crypto-analyst-warns-investors-about-the-possible-decline-of-solana-sol-and-shares-expectations-for-bitcoin-btc/</a>

Crypto Analyst Warns Investors about the Possible Decline of Solana (SOL) and Shares Expectations for Bitcoin (BTC)

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