Solana

<div class="dailyhodl"> 
 <p>A widely followed crypto strategist is updating his outlook on Ethereum (ETH) competitor Solana (SOL).</p> 
 <p>Pseudonymous crypto strategist Pentoshi tells his 738,500 followers on the social media platform X that SOL could dip in the coming months by more than 40% from its current value.</p> 
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">    
 </div> 
 <p><em>“Not sure we get as low as I have here, but do expect at some point to be able to bid in the $70s. Looking forward to not just trading SOL, but holding some eco-system coins for the next year or so.”</em></p> 
 <figure style="width: 100%" class="wp-caption alignnone">
  <img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GDRj3YSWMAAJzzG?format=jpg&amp;name=4096x4096" alt="Image" width="3024" height="1920">
  <figcaption class="wp-caption-text">
   Source: Pentoshi/X
  </figcaption>
 </figure> 
 <p>Looking at his chart, the trader suggests that Solana could dip to around $70 at the end of March and then rally toward $90.</p> 
 <p>Solana is trading for $99.64 at time of writing, up 13.27% in the last 24 hours.</p> 
 <p>Two other popular crypto traders are also predicting a market correction for Solana.</p> 
 <p>Pseudonymous analyst Altcoin Sherpa tells his 204,900 followers on the social media platform X that Solana will likely dip to Fibonacci retracement levels 0.382 at $84.50 or 0.50 at $71.67.</p> 
 <p><em>“SOL: plan still remains, 0.382 and 0.50 Fib levels are the areas of interest. These will both be great entries for the long run in my opinion. Sold some of my SOL higher.”</em></p> 
 <figure style="width: 100%" class="wp-caption aligncenter">
  <img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GDPOMdXXgAAlIJ3?format=jpg&amp;name=4096x4096" alt="Image" width="2109" height="1185">
  <figcaption class="wp-caption-text">
   Source: Altcoin Sherpa/X
  </figcaption>
 </figure> 
 <p>Meanwhile, pseudonymous crypto strategist Rekt Capital tells his 385,700 followers on the social media platform X that SOL is dangerously close to flipping a key support level at $98 into resistance and then dipping into the $70 range.</p> 
 <p><em>“Weak reaction from the range low. This reaction was promptly cancelled out. Now SOL is threatening to lose range low as support. Weekly close below the range low could begin the breakdown process into the green area below.”</em></p> 
 <figure style="width: 100%" class="wp-caption alignnone">
  <img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GDP1sSxWQAE75MG?format=png&amp;name=large" alt="Image" width="1786" height="1266">
  <figcaption class="wp-caption-text">
   Source: Rekt Capital/X
  </figcaption>
 </figure> 
</div>
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/analyst-issues-solana-warning-predicts-deep-correction-for-sol-in-coming-months-here-s-his-downside-target-tbt76090.html">https://thebittimes.com/analyst-issues-solana-warning-predicts-deep-correction-for-sol-in-coming-months-here-s-his-downside-target-tbt76090.html</a></p>

Analyst Issues Solana Warning, Predicts Deep Correction for SOL in Coming Months – Here’s His Downside Target

TheBitTimes

Other articles published on Jan 10, 2024

Fidelity cuts proposed spot Bitcoin ETF fee to 0.25% amid industry fee competition

Make or Break Moment for Bitcoin ETFs Today! What’s In Store For BTC Price?

Key takeaways from Bybit’s CryptoArk Keynote address

Bitcoin analyst predicts price surge to $55K by halving

Shiba Inu Whale Accumulates Massive Holdings, Amid Price Recovery

Litecoin (LTC) at 570-Day Support: Is a Market Reversal on the Horizon?

Join our free newsletter for daily crypto updates!