Future

Solana

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solanas-price-predictions-and-market-recovery/" data-wpel-link="internal">Solana’s Price Predictions and Market Recovery</a><br></p>
<p style="text-align: justify">Last year, cryptocurrencies, including Solana (SOL), showcased impressive price performances, leading many to consider it a major architect of the market’s recovery. After surpassing $100, SOL’s price is challenging the $120 level again, leaving investors wondering whether it will drop to $90 or rise to $125 in February.</p> 
<h2 style="text-align: justify" id="the-future-of-solana-sol">The Future of Solana (SOL)</h2> 
<p style="text-align: justify">While the general market continues to experience volatile price movements, Solana’s price has maintained strong resistance above the $106 level, earning investor admiration.</p> 
<p style="text-align: justify">The formation of a morning star candlestick pattern at this horizontal level indicates the presence of sufficient demand pressure for the price to continue its recovery trend. However, if <a href="https://en.coin-turk.com/bitcoin-struggles-to-hold-above-27000-a-potential-breakout-in-august/" data-wpel-link="internal">Bitcoin</a>‘s price undergoes a correction from $52,000, it remains to be seen whether SOL can maintain this price level.</p> 
<p style="text-align: justify">Upon examining Solana’s daily chart, it’s clear that the altcoin has experienced a swift recovery following the latest correction, with buyers fully regaining control at the $79 support level.</p> 
<p style="text-align: justify">The V-shaped formation on the charts could be interpreted as a sign of aggressive price movement, during which SOL’s price saw a 42% increase within a month.</p> 
<p style="text-align: justify">Looking at the recent recovery, buyers have managed to reclaim 50% of the losses from the last decline due to their strong pressure.</p> 
<p style="text-align: justify">On February 17th, SOL’s price showed a recovery from the support trend line and the region indicating the slope of the 20-day EMA, marked by a morning star candlestick formation.</p> 
<p style="text-align: justify">If the momentum from the recovery continues, a 13% price increase is possible with buyer pressure, potentially reaching the $125 neckline resistance of the cup-and-handle formation.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-316879" src="https://coin-turk.com/wp-content/uploads/2024/02/solana-125-coin-turk-com.jpg" alt="" width="733" height="326"></p> 
<h2 style="text-align: justify" id="patterns-indicate-a-recovery">Patterns Indicate a Recovery</h2> 
<p style="text-align: justify">As seen in the charts, the current rise in SOL’s price suggests the formation of the handle part of a cup and handle pattern. This retracement could be the last correction SOL faces before buyers initiate a significant upward price movement.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-316880" src="https://coin-turk.com/wp-content/uploads/2024/02/solana-fincan-coin-turk-com.jpg" alt="" width="728" height="342"></p> 
<p style="text-align: justify">A breakthrough to $125 on the resistance trend line seen in the charts could accelerate the price recovery. If investor enthusiasm continues, the price could aim for a potential $250 target. Conversely, a decline from the lower support trend line could push SOL’s price below the $90 level.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solanas-price-predictions-and-market-recovery/" data-wpel-link="internal">Solana’s Price Predictions and Market Recovery</a></h5>

Solana’s Price Predictions and Market Recovery

Mục lục

COINTURK NEWS

Các bài viết khác được xuất bản trên 19 thg 2, 2024

GigaChadGPT The AI-Powered Utility Project Combining Crypto, Meme

Solice Crypto Stabilizes Near Lows: Are Buyers Accumulating?

Worldcoin (WLD) Melesat dalam Seminggu, Sektor AI Masih Panas

Crypto Exchange Fixed Float Hit by Major Theft Incident

Top crypto news highlights from Asia last week

Significant Recovery in Cryptocurrency Prices as Bitcoin Surpasses $52,000

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!