- Solana price is very close to breaking down below this level, it is expected that Solana will drop to $3.75 as the price of Bitcoin and Altcoins are expected to drop below this price level.
- The breakout should begin somewhere below $100, but it’s hard to tell how high it will go. A break below $80 looks more likely than above it. This time, we’re looking for a break below $100 with a move above $80.
- This support level has been breached by the price and the bulls have returned back with vigor. This is not a buying opportunity as the price is still in a downtrend and the bulls will surely return back once again.
Bulls have a tough road ahead to invalidate any bearish price action
- If buyers want to invalidate any near-term bearish outlook, it would make sense for buyers to be focused on the bullish side of the market. While there isn’t a consensus among investors on the outlook for equities, it is important to be aware of the key factors that are moving the market.
- The bulls will have to prove that they are as strong as they have been since their recent decline commenced in early January.
Time cycles suggest that a change in direction is coming up – but not until March 21
- A Solana price rally is forecast for the next couple of days, as investors begin to feel the squeeze of the high-earning summer vacation period.
- The stock markets have been riding high for some time now, and there is a lot of buzz surrounding the markets as prices continue to soar. However, this has led to a major sell-off in the stock markets, with shares of Solana Inc. (NASDAQ: SLNA) suffering from a major reversal.
Summary
SOL is poised for a new bull run, and it is important to know if the price breaches the level of $2,500. As mentioned before, this level of $2,500 is a bearish level for SOL. If the price breaches this level, then it will likely be a bearish period for SOL. However, it is important to note that this level is not a significant bearish level.
CTA
For a long time, the Solana community has been in the bearish market but the price is still stuck near the $2.60 mark. The price needs to breach this level above $2.61 in order for Solana to enter a new bull run.
