While the cryptocurrency world is witnessing a tough struggle in the field of “smart contracts”, solana The future of (SOL) price continues to be discussed. Although popular traders of the cryptocurrency world maintain their optimistic outlook in the long term, there is a decline in the short term. predicts.
In his latest post, analyst Bluntz thinks that the Solana price may experience a similar decline that Bitcoin experienced before showing a parabolic rise performance. SOL was one of the assets discussed with a collapse before the parabolic movement in 2018.
According to the analyst’s post, Solana fell below the triangle formation support it is currently in. This can be interpreted that the price will continue its downward trend. The analyst continued his analysis by stating that he would increase SOL investments if it fell below $70.
According to Bluntz’s chart, Solana price may gain momentum above $110 after bouncing from the $70 region.
As we reported as Koinfinans.com, popular trader Pentoshi also drew attention to the $70 support. The trader believes that a decline towards this level is likely. The possibility of a jump from the $70 region on Trader’s chart also draws attention.
Altcoin Sherpa, the popular altcoin analyst of the cryptocurrency world, also expects the Solana price to fall to the 0.50 Fibonacci retracement level. This represents a level close to the $70 region that other experts point out.