The post End Of The Road For Solana? Analyst Predicts 77% Price Crash To $40 appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. In a surprising take, a crypto analyst has foreseen a crash in the price of Solana despite the ongoing bull momentum. This analyst is projecting a crash in the price of Solana, offering a fresh perspective on the crypto heavyweight. According to a crypto trader who goes by the name AlanSantana on TradingView and is very active on the trading platform, Solana’s trading volume in the past two months suggests the crypto is gearing up for a crash. Analyst Predicts Massive Crash For Solana AlanSantana observed that Solana’s trading volume has dropped significantly between September and October 2024, a development that often signals a bearish outlook and may suggest an upcoming downward price impulse. Inferring from this outlook, this suggests that the volume trend is pointing towards demand tapering off.  Related Reading The analyst also draws a contrast with last year’s trading activity, specifically from September to November 2023, when Solana’s volume was on the rise. This uptick in trading volume fueled a bullish rally that extended through the first quarter of 2024, with momentum carrying Solana to substantial highs by March. Based on the difference in two time periods and the current decrease in trading volume, the analyst suggested that there is a higher probability of Solana going in a main bearish direction. In light of this, he highlighted a Solana price crash below the $50 price level. Interestingly, a crash below $50 will effectively cancel out the gains in the past year and would return the cryptocurrency to its price range in November 2023.  Source: TradingView SOL Whales Continue With Activity Solana is still largely in a bullish mode despite the decline in trading volume that was pointed out by AlanSantana. According to data from on-chain tracking firm Lookonchain, crypto whales…

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Filed under: News - @ October 30, 2024 10:19 pm