Solana (SOL) price may rise again after reaching this support zone

Solana (SOL), praised for its processing speed, is the focus of our analysis today. We focus on SOL price prediction for the near future. This article contains technical analysis from our premium environment.

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Technical Analysis Solana (SOL)

Crypto Insiders analysts recently made a new SOL analysis available in the Premium environment. They explained:

“The current scenario for SOL does not look positive yet. We are headed for another downtrend as our latest analysis shows.

Recently we received a large impulsive Elliott Wave pattern from 12345 that peaked at $126. As is usual with such patterns, a correction phase follows.

We expect SOL to move towards the blue support zone, which is between $58 and $68. This area marks the Fibonacci levels of 100% and 123.6%, which often serve as the end point of a corrective move.

From this level we expect a significant upward movement. Although the current market situation appears challenging, we see potential for a strong recovery after reaching the mentioned support zone.”

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Date of analysis: January 20th. Link to trading view:

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