Solana Rebound: SOL To Hit $260 Despite Continuous Dip, Analyst Says
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Solana (SOL) has seen erratic value shifts recently, trading at $150 with a 6.2% daily and 17.1% weekly decline. Despite this, analyst Ali Martinez sees potential for SOL to hit $260, citing a bullish megaphone pattern on the 4-hour chart. Technical indicators, such as the 61.8% Fibonacci retrace level and oversold RSI, support this outlook. Martinez recommends a stop-loss between $156-$154 and targets a profit range of $200-$259.
Solana's long-term prospects are promising, currently trading at a 14.59% discount to its expected estimate for the next month. CoinCheckup forecasts a 2.91% rise over the next three months, leading to an anticipated 80% rally in six months. This is attributed to expected network improvements, increased usage, and market growth.
Source: www.newsbtc.com ↗
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