Solana Price Turns Bearish
In an on the TradingView website, crypto analyst Alan Santana has warned that the Solana price is turning bearish. The analyst points to developing trends in the year 2024 compared to the year 2023 and how the current trends are more bearish. This takes in the volume of the altcoin and what has happened as a result of major spikes.
For example, the analyst points out that in the chart, 2023 looks better than 2024. For one, the 2023 chart shows a lot of large spikes in the volume which are green. This meant that the volumes were rising, and as a result, there was also a .In line with this, there has also been notable spikes in the Solana volume in 2024, but that is as far as the similarities to. This time around, the spikes in the volume are red and the Solana price has crashed following this. This suggests that the current trend is more bearish and the price could fall further from here.
The target from here is a crash to as low as $80. Now, if this does play out, then the Solana price would be seeing an over 40% crash. If the crash continues further, retracing the gains from the year 2023, a move down to $60 could be expected. At such prices, it would mean an over 50% decline.