In this article, we share a recent analysis of solana (SOL) previously shared in our Featured group. More than 20 of these types of analyzes are shared by experienced analysts in our private trading community and already used by more than 1000 Dutch traders.
Experienced traders know that profitable trading is possible not only when the price is going up, but also when the price is going down. Our analysts expect the price of SOL to drop, creating new opportunities for traders. At the bottom of this article we explain how this works and where you can go for more information. If you still have questions after reading the analysis or are interested in more analysis and insights from our experts, you can try our premium membership for free for 30 days.
Technical analysis price of SOL
Solana price is currently showing a strong bearish pattern that has not gone unnoticed by analysts. In their latest analysis, they shared the following with premium members:
“We see a WXY Elliott Wave pattern emerging in SOL, with the price currently in a bearish Y wave. We expect the price to decline further in the near term to the 100% and 123.6% Fibonacci levels, which correspond to the blue area between $10.15 and $12.80. This This is where this wave usually ends, according to the theory.
In addition, it is worth noting that the price is struggling to breach the 200 moving average (MA), which is a negative sign and increases the possibility of a bearish breakout. We will share an update on Solana’s progress in the Premium environment in a few days.”
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Disclaimer: Investing involves risk. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and advice provided on this site is based on the insights and experiences of our analysts. So, these are for educational purposes only.
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