Top Analyst Says Solana to Tank by 50% to $85, Community Reacts
The post Top Analyst Says Solana to Tank by 50% to $85, Community Reacts appeared on BitcoinEthereumNews.com.
Top analyst Bluntz Capital predicts a 50% Solana price drop to $85. Solana’s recent rally could be a bearish signal, despite 30-day gains. Community divided on the prediction, citing Bitcoin’s strength and meme coin potential. Solana (SOL) has been enjoying a multi-month upward trend, but recent technical analysis suggests this rally might be forming a complacency shoulder within a macro B wave, potentially signaling a bearish downturn. In the latest update, crypto analyst Bluntz Capital voiced concerns that Solana’s broader market outlook may not be as rosy as it seems, especially without a confirmed five-wave decline on lower timeframes. ooft, first look at $sol in a while and i think that whole multi month grind up looks like a complacency shoulder macro B wave on usd pair and btc pair. still no 5 wave decline on the lower timeframes “yet” but its not awe inspiring for the broader market when a former bull… pic.twitter.com/GQNxI1UX8G — Bluntz (@Bluntz_Capital) August 1, 2024 The analysis points to possible price declines toward key support levels like the $85 region, signaling caution for traders and investors. Bluntz noted that while the cu… The post Top Analyst Says Solana to Tank by 50% to $85, Community Reacts appeared first on Coin Edition. Source: https://coinedition.com/top-analyst-says-solana-to-tank-by-50-to-85-community-reacts/
Filed under: News - @ August 2, 2024 2:12 am