Will Solana Fall from $142 to $129? What August Holds for SOL
Journalist
- The market sentiment around Solana has turned bearish over the past few days.
- However, there was a chance that the sell signal might be canceled.
Solana [SOL] price volatility has dropped over the past week as both the daily and weekly charts have been inactive.
However, considering the latest data, a sell signal appeared on the SOL chart, which could result in a price drop in the coming days. Let’s look at what’s going on.
Solana shifts gears
According to CoinMarketCap’s data, the SOL price has dropped by just 1% over the past seven days.
At the time of writing, SOL was trading at $142.28 and had a market cap of over $66 billion, making it the fifth-largest cryptocurrency.”
The MACD indicated the chances of a bullish crossover. If that happens,SOL could successfully break above its 20-day SMA.
This could allow SOL to initially target $163 before moving towards $186.
If the SOL bears give in, asthe sell signal suggests, investors could see a possible fall to its support neara price near$129 area.”
Source: Trading View
