Solana

Show

Dogecoin

Apex

Gains

<p><a href="https://captainaltcoin.com/solana-price-prediction-can-sol-reclaim-144-or-fall-lower/" target="_blank" rel="noopener noreferrer nofollow">Solana (SOL)</a> is approaching a critical level as its price undergoes a period of compression, according to an analysis by analyst Crypto Yapper. His tweet and chart highlight a key support level that could determine the future direction of SOL’s price.&nbsp;</p>
<p>While a breakout seems likely, there are important factors investors need to consider before anticipating a surge.</p>
<h2 class="wp-block-heading" id="strong-sol-s-price-compression-and-resistance-strong"><strong>SOL’s Price Compression and Resistance</strong></h2>
<p>Crypto Yapper’s analysis points out that Solana is facing a descending resistance trendline that has consistently hindered the coin’s price movement throughout 2024. This trendline acts as a barrier, preventing SOL from gaining upward momentum.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> Price Compression !<br><br>The price of <a href="https://twitter.com/hashtag/SOL?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SOL</a> is getting squeezed into an apex <br><br>We will see a huge break out soon, but first we are going back down<br><br>The horizontal support at $128 is the level to hold for <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Solana</a> <a href="https://t.co/kuKnKj81Ow" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/kuKnKj81Ow</a></p>— Crypto Yapper (@CryptoYapper) <a href="https://twitter.com/CryptoYapper/status/1841830310927073792?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The repeated inability to break through this resistance suggests that a price breakout may be approaching, but the direction remains uncertain. <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener noreferrer nofollow">The current price of Solana</a> is being squeezed between this descending resistance and a horizontal support level, forming a price compression pattern.&nbsp;</p>
<p>Price compression often leads to substantial movement, either upwards or downwards, as the price reaches the apex of the pattern.</p>
<h2 class="wp-block-heading" id="strong-horizontal-support-at-128-key-level-to-watch-strong"><strong>Horizontal Support at $128: Key Level to Watch</strong></h2>
<p>The horizontal support at $128 is crucial for <a href="https://www.newsbtc.com/analysis/solana-sol-support-132/" target="_blank" rel="noopener noreferrer nofollow">Solana’s price stability</a>, as highlighted by Crypto Yapper in his tweet. This level has held strong in previous dips, serving as a zone where buying pressure emerged.&nbsp;</p>
<p>However, should the price fall below this support, it could lead to further declines. The support level is critical as it signals a point of potential reversal for SOL.&nbsp;</p>
<p>If Solana manages to hold above $128, the price may bounce, triggering the breakout investors are eagerly anticipating. Conversely, a failure to hold could result in a downward movement before any upward trend materializes.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Celebrate Dogecoin and Make Big Gains with Doge2014!
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://doge2014.io" target="_blank" rel="noopener noreferrer nofollow">Doge2014</a></strong> raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on <strong><a href="https://doge2014.io/en/airdrop" target="_blank" rel="noopener noreferrer nofollow">exclusive airdrop</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/expert-warns-of-further-bitcoin-btc-price-dip-heres-why/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Expert Warns of Further Bitcoin (BTC) Price Dip: Here’s Why</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-price-squeeze-towards-apex-and-near-term-outlook-strong"><strong>Price Squeeze Towards Apex and Near-Term Outlook</strong></h2>
<p>Solana is currently in a phase where the price is being squeezed toward an apex. This price squeeze typically signals an imminent breakout. However, Crypto Yapper predicts that the price is likely to dip toward the $128 support level before a breakout occurs.&nbsp;</p>
<p>This prediction aligns with broader market patterns, where cryptocurrencies often retest support levels before making a major move. The analyst suggests that once Solana tests this support level, investors should prepare for a breakout.&nbsp;</p>
<p>If SOL breaks above the descending resistance, a surge could follow. On the other hand, a drop below $128 may indicate further downside for the crypto.</p>
<p><strong><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></strong></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/solana-sol-price-eyes-potential-surge-but-theres-a-catch/" rel="noopener noreferrer nofollow">Solana (SOL) Price Eyes Potential Surge, But There’s a Catch</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana (SOL) Price Eyes Potential Surge, But There’s a Catch

Table of Contents

CaptainAltcoin

Other articles published on Oct 4, 2024

Inactive Bitcoin Wallet Surfaces, Revealing Significant Gains

Yakovenko Blames Biden for Job Shortages

XRP Chart Looks ‘Alright’ As Price Eyes $0.76, But How Will SEC Appeal Against Ripple Impact the ...

Aptos Ecosystem Receives Major Backing with New Fund from Top Venture Firms

Reku Paparkan Sejumlah Tantangan Baru Bitcoin

Crypto AI:CON Gathers the Brightest AI and Blockchain Minds in Lisbon

Join our free newsletter for daily crypto updates!