The cryptocurrency Solana (SOL) is showing signs of recovery after recent price fluctuations and a drop. After falling to $124, SOL's price has returned to the $135-$138 range.
Recent Pullback and Recovery
Last week, Solana experienced a sharp drop below the support level at $130, briefly falling to around $124. This triggered panic among short-term holders, but a quick recovery brought SOL back to the $135 level. This type of V-shaped recovery indicates strong underlying demand.
Solana Price Prediction
Currently, SOL is maintaining a steep bearish trend while remaining within a bullish pattern. The cryptocurrency has rebounded from the lower support of the descending parallel channel, hinting at a bullish continuation. SOL is expected to challenge the critical resistance at $142.
SOL Growth Prospects
Analyzing the current situation, SOL is nearing the psychological barrier at $140. If fundamental factors remain positive, Solana's price may surpass $300 in the next bullish wave.
Solana demonstrates resilience amid market instability, emphasizing its potential for further growth. Investors will closely monitor the cryptocurrency's movements in the near future.
