Plunge

Solana

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/peter-brandt-warns-of-solanas-potential-plunge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Peter Brandt Warns of Solana’s Potential Plunge</a> 
Experienced trader Peter Brandt cautioned that Solana (<a href="https://en.coin-turk.com/will-sol-price-rise-while-others-fall-sols-strong-performance-in-the-altcoin-chaos/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SOL</a>), a major competitor of Ethereum , may face significant correction risks. He noted that if Solana loses the support level near its trading range’s lower boundary, it could drop more than 43% from its current value.
<h2 id="brandt-s-warning">Brandt’s Warning</h2>
Brandt, who has hundreds of thousands of followers on the X platform, stated that if the support level of approximately $129 breaks, a large rectangle formation could complete, potentially driving the price down to around $80. This assessment invites investors to closely monitor Solana’s critical support levels.
<blockquote>
 “Observation on SOL. At a support area. If the support (around $129) breaks, a large rectangle completes, and the price may drop to around $80.”
</blockquote>
<h2 id="inmortal-s-optimistic-forecast">Inmortal’s Optimistic Forecast</h2>
Conversely, fellow crypto trader Inmortal believes Solana is gearing up for a major breakout. In a recent market analysis shared on the X platform, he indicated that SOL could break through its descending resistance line, consolidating to reach approximately $350 by the summer of 2025.
<blockquote>
 “Solana is about to take off.”
</blockquote>
According to Inmortal’s analysis, Solana may experience significant value increases in the near future. However, it first needs to overcome hurdles at $188 and $210.
Brandt also shared a scenario where Bitcoin could reach new all-time highs. He suggested that Bitcoin might be forming a large cup-and-handle pattern since late 2020, typically indicating a consolidation after a sharp rise before breaking through a significant resistance level.
As of the time of writing, Bitcoin was trading at approximately $63,029, up about 3% in the last 24 hours. Experts believe that these potential movements in both Solana and Bitcoin could significantly impact the <a href="https://en.coin-turk.com/exploring-the-crypto-landscape-in-2024-trends-and-key-players/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/cryptocurrencies-in-2022-a-challenging-year-turns-hopeful/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market, emphasizing the need for investors to closely monitor market developments and manage their risks.
The post <a href="https://en.coin-turk.com/peter-brandt-warns-of-solanas-potential-plunge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Peter Brandt Warns of Solana’s Potential Plunge</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Peter Brandt Warns of Solana’s Potential Plunge

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