Solana

Bitcoin

Sherpa

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/three-analysts-issue-short-term-bearish-warning-for-solana-sol/" data-wpel-link="internal">Three Analysts Issue Short-Term Bearish Warning for Solana (SOL)</a> 
Crypto investors closely follow three analysts who have issued a short-term bearish warning for the leading smart contract platform Solana (SOL). The analysts expect SOL’s price to head towards much lower levels before a potential rebound. 
<h2 style="text-align: justify" id="strong-short-term-bearish-warning-from-three-analysts-on-solana-strong">Short-Term Bearish Warning from Three Analysts on Solana</h2> 
Anonymous crypto analyst Bluntz, through his personal account on a <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude">social media</a> platform, warned of a downturn, highlighting that SOL’s price movement resembles the one seen at the end of 2018, before Bitcoin (BTC) made a parabolic rise. According to Bluntz, SOL has fallen below the support line of a triangular formation and is currently moving towards a downward price target: 
<blockquote> 
 Those who remember, remember. I can’t say exactly. Maybe there will be a final exit burst, or maybe a burst straight down to support. All I know is if it drops below $70, I will make a substantial purchase of SOL. 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-307090" src="https://coin-turk.com/wp-content/uploads/2024/01/Altcoin-SOL.jpeg" alt="" width="1049" height="1192"> 
Looking at the analyst’s chart, it is expected that SOL will first pull back to $70 and then bounce from there. With this bounce, the altcoin is predicted to rise above $110. 
Another closely followed crypto analyst Pentoshi also told his followers from his account that he expects SOL to revisit the $70 support level. Looking at Pentoshi’s chart, it is clear that he shares the same view as Bluntz, anticipating a bounce after a pullback to around $70. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-307091" src="https://coin-turk.com/wp-content/uploads/2024/01/Altcoin-Solana-scaled.jpeg" alt="" width="2560" height="1615"> 
Lastly, <a href="https://en.coin-turk.com/req-coin-price-surges-by-80-whats-behind-the-rally/" data-wpel-link="internal">Altcoin</a> Sherpa also issued a short-term bearish warning for SOL. The analyst expects SOL to fall to the 0.50 Fibonacci retracement level and mentioned, “The $70 level seems like a good price level to get involved with Solana.” 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-307092" src="https://coin-turk.com/wp-content/uploads/2024/01/SOL-Altcoin-1.jpeg" alt="" width="2153" height="1179"> 
<h2 style="text-align: justify" id="strong-current-situation-of-sol-strong">Current Situation of SOL</h2> 
According to CoinMarketCap’s data, SOL has seen a 2.83% increase in the last 24 hours, trading at $87.18. The data shows that the popular altcoin‘s price has dropped by 13.37% in the last 7 days and by 24.21% in the last 30 days. 
If SOL were to pull back to the $70 level indicated by Bluntz, Pentoshi, and Altcoin Sherpa, it would correspond to a 20% drop from the current prices. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/three-analysts-issue-short-term-bearish-warning-for-solana-sol/" data-wpel-link="internal">Three Analysts Issue Short-Term Bearish Warning for Solana (SOL)</a></h5>

Three Analysts Issue Short-Term Bearish Warning for Solana (SOL)

Table of Contents

COINTURK NEWS

Other articles published on Jan 25, 2024

GBTC bleeds Bitcoin, Moves 100K BTC to exchange

VOLT Crypto: Can Volt Price Decline & Reach Lower Levels?

Tesla’s Q4 2023 Financial Report: No Bitcoin Transactions in Q4 2023 Amidst Market Volatility

How to Get Paris Saint-Germain Fan Token?

XRP Faces Bearish Pressures Amid Market Downturn: Analysts Divided On Next Move

Blockchain in many cases is not needed, Birmingham University’s research reveals

Join our free newsletter for daily crypto updates!