Solana (SOL) price and SOL holders are in a state of confusion about what to expect next. The future of SOL will be dictated by two key support levels
Solana price uptrend is contingent on two key support levels of $26.41 and $28.80. A bounce off this level could send SOL toward $38.84 and $48.24 hurdles. A breakdown of $26.41 could crash the altcoin by nearly 20% to $21.28. and, more importantly, the maintenance of the bullish market outlook. Also read:Solanahas a good chance of being 2024’s best performer Solana price at crossroads Solana price is in a precarious position after breaching the $26.41 and $28.80 hurdles.
But for this bullish move to occur, the overall outlook of the market needs to remain neutral or bullish. In such a case, Solana price could see itself targeting the buy-side liquidity resting above $38.84 and $48.24, roughly 38% and 68% away from the $28.80 support floor. Read more:FTX and Alameda Research prepare to sell $60 million worth of Ethereum,Solanaand other assets SOL/USDT 4-hour chart It is clear that the outlook for Solana price is contingent on the $26.41 and $28.
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