Solana might enter this potential buy zone

Solana is slowly drifting below $117, the bottom of September 21, where it has significant support.

 Solana price today is $149.04 USD with a 24-hour trading volume of $2,797,275,773 USD. Solana is down 11.75% in the last 24 hours, with a market cap of $46,115,667,830 USD. It has a circulating supply of 309,418,731 SOL coins.   

Source: Tradingview

Solana: Analysis

Solana is currently resting above the EMA 200 support. Like Ethereum, Solana is moving downwards inside a parallel bearish channel. Conversely, looks like Solana is forming an inverted head and shoulder pattern inside the parallel channel. Solana has resistance at $190, fib 0.618, and local support at $138. In the case of a major plunge, Solana has support at $78, fib 1.618.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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