Solana: The bearish rally is fatal

What's in this article

Solana has good support above $140 and yesterday we feared it will break, and it did. Solana is sliding swiftly after retesting the support level.

Solana price today is $136.94 USD with a 24-hour trading volume of $1,555,933,128 USD. Solana is up 1.00% in the last 24 hours, with a market cap of $43,020,319,797 USD. It has a circulating supply of 314,151,698 SOL coins.   

Source: Tradingview

Solana: Analysis

After breaking the native support of $135, fib 0.786, Solana is bleeding red to our target at $122, fib 1.272 – losing more than 13% from the current price. Solana has negligible support at $130 but it won’t be able to hold off such huge rally support by volumes. The local resistance for Solana is at $140.

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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