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Solana Holds Support Above Key Indicator – Expert Sees Push To ATH If Momentum Returns Newsbtc 4 zile în urmă

Solana Holds Support Above Key Indicator – Expert Sees Push To ATH If Momentum Returns 📈

Ethereum Solana XRP

Solana has been under significant selling pressure since late January, losing over 40% of its value from its all-time highs. Despite the bearish trend, analysts note Solana is maintaining its position above key support levels. Top analyst Daan highlights that the cryptocurrency remains above a crucial diagonal trend line and the Daily 200MA/EMA, suggesting potential for recovery.

If Solana holds current support, a swift rebound could be possible, potentially enabling it to reclaim previous highs. The coming days are crucial as investors watch Solana's ability to defend its support levels or risk further declines.

Solana recently dipped more than 14%, testing the last support level critical for its long-term bullish structure. Analyst Daan emphasizes the importance of these levels in determining SOL's trend direction. While market uncertainty persists, a recovery could lead to significant gains if momentum returns.

Currently trading at $192, Solana is at a critical juncture. Holding above the 200-day EMA suggests potential for bulls to push towards $200. Failure to maintain these supports may lead to a deeper correction, with prices dipping to $170, confirming a bearish trend since January.

Sursă: www.newsbtc.com ↗

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