Price Analysis

What Will Be Solana (SOL) Price’s Next Move? Technicals Are Bearish Yet Pattern’s Bullish!

Written by: Sahana Vibhute

November 10, 2021

Solana price since the early trading hours is experiencing a slight drain after recording new highs close to $260. On the other hand, Bitcoin price and Ethereum price are also facing a similar trend. No doubt the entire crypto space including the top 10 crypto assets are experiencing a similar trend, yet SOL price may wind up consolidating very soon. 

The asset rallied notably by more than 60% in the last 30 days and attained the highest levels ever. However, since the past couple of days, the asset has declined nearly 10% and is trading close to $240. Yet the price could gain huge momentum in order to charge above the ATH with the recent surge, the price has formed a bullish flag. 

Also Read: Attention‌ ‌Traders‌ ‌Crypto‌ ‌Is‌ ‌All‌ ‌Set‌ ‌to‌ ‌Create‌ ‌Millionaires,‌ ‌Any‌ ‌Time‌ ‌From‌ ‌Now!‌ ‌

Source: Tradingview

Currently, the price is consolidating within a bullish flag, however, feared to break the lower levels than breaking above. Therefore, if the pattern needs to be validated, then the price should bounce a little from the current zones. As the asset breaks out from the pattern, a huge leg up may propel the price close to $300. Else in the worst case, if the price dumps and invalidates the pattern, yet could rebound from the strong support levels at $212. 

Collectively, Solana price has just slipped out of the top 5 positions as Cardano price has geared up a little. However, with a notable jump, SOL price may regain bullish momentum and regain the ATH spot at the earliest. 

Also Read: Avalanche, Polygon, and Axie Infinity To Dethrone These Three Altcoins From Top 10!

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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