{"id":571187,"date":"2024-01-24T15:30:54","date_gmt":"2024-01-24T15:30:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=571187"},"modified":"2024-01-24T11:42:29","modified_gmt":"2024-01-24T11:42:29","slug":"solana-corrects-1000-rally","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/solana\/solana-corrects-1000-rally\/","title":{"rendered":"Analysts Reveal Next Steps As Solana Corrects Hard After 1000% Rally"},"content":{"rendered":"

Several analysts have given their opinion on what lies ahead for <\/span>Solana (SOL)<\/span><\/a>. Based on their prediction, the crypto token could experience a further move to the downside as part of a price correction that seems overdue following its <\/span>parabolic rise back in 2023<\/span><\/a>, when it saw a gain of almost 1,000%.\u00a0<\/span><\/p>\n

SOL Could Drop To As Low As $70<\/h2>\n

Crypto analyst Bluntz Capital<\/span><\/a> suggested in an X (formerly Twitter) post that Solana could drop to as low as $70. From the chart that he shared, he looked to be analyzing SOL\u2019s price movement using the <\/span>ABC pattern<\/span><\/a>, with a move to $70 being the C wave. If SOL were to drop to that price level eventually, Bluntz mentioned that he would be \u201cmax bidding SOL\u201d as he foresees a further move to the upside once the correction is done.\u00a0<\/span><\/p>\n

\"Solana\"<\/p>\n

Source: X<\/pre>\n
Professional Crypto Derivative Exchange Bitunix <\/span>shared<\/span><\/a> their <\/span>SOL price analysis<\/span><\/a> in an X post. They highlighted how the crypto token has broken out of its triangle, something which signals more downside ahead. <\/span>SOL may initially fall<\/span><\/a> to as low as $76 as a result of this. If it fails to hold above the support at that price level, a further decline towards $65 could occur, Bitunix claims.\u00a0<\/span><\/p>\n
Related Reading: Bitcoin Recovery: This Massive $500 Billion Investment Could Send Price Above $50,000<\/a><\/p>\n
Technical analyst LuxAlgo also <\/span>hinted<\/span><\/a> at a price decline to $76 based on the chart, which they shared in an X post. They noted that Solana had broken its lows as expected and raised the possibility of a \u201csteeper drop\u201d being imminent.\u00a0<\/span>
\n\"SOL\"<\/p>\n
Source: X<\/pre>\n
Meanwhile, crypto analyst Tryrex Crypto <\/span>stated<\/span><\/a> that he is betting on a <\/span>crash back to $71<\/span><\/a> for SOL. He mentioned how tempting it might be to open a long position right now and expect a bounce on the current support level. However, he seemed skeptical of such a move as he claims that the previous bounce was \u201ctoo weak to maintain the trend.\u201d<\/span><\/p>\n
\"Solana<\/p>\n
SOL price recovers to $87 | SOLUSD on Tradingview.com<\/a><\/pre>\n
Solana To $150 Once All Is Said And Done<\/h2>\n
In a more recent <\/span>X post<\/span><\/a>, Bluntz stated that the SOL ABC pattern is \u201cstarting to look done now.\u201d If that is the case, he expects a <\/span>trend reversal<\/span><\/a> as the next move to the upside should send SOL to above $150. In the meantime, he said that the <\/span>crypto token<\/span><\/a> is trying to test and reclaim its prior breakdown range.\u00a0<\/span><\/p>\n
Related Reading: JP Morgan Reveals Likelihood Of Spot Ethereum ETFs Getting Approved<\/a><\/div>\n
Interestingly, crypto analyst Ali Martinez had raised the <\/span>possibility of Solana rising to $150<\/span><\/a> in one of his previous price analyses. However, SOL then failed to close above the <\/span>$106 price level<\/span><\/a>, which Martinez had highlighted as being critical for this price prediction to materialize. Bluntz\u2019s prediction no doubt provides optimism that the $150 price level remains a possibility.\u00a0<\/span><\/p>\n
At the time of writing, SOL is trading at around $86, up over 6% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.<\/span><\/p>\n
Featured image from ByteTree, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Several analysts have given their opinion on what lies ahead for Solana (SOL). Based on their prediction, the crypto token could experience a further move to the downside as part of a price correction that seems overdue following its parabolic rise back in 2023, when it saw a gain of almost 1,000%.\u00a0 SOL Could Drop To As Low As $70 Crypto analyst Bluntz Capital suggested in an X (formerly Twitter) post that Solana could drop to as low as $70. From the chart that he shared, he looked to be analyzing SOL\u2019s price movement using the ABC pattern, with a move to $70 being the C wave. If SOL were to drop to that price level eventually, Bluntz mentioned that he would be \u201cmax bidding SOL\u201d as he foresees a further move to the upside once the correction is done.\u00a0 Source: X Professional Crypto Derivative Exchange Bitunix shared their SOL price analysis in an X post. They highlighted how the crypto token has broken out of its triangle, something which signals more downside ahead. SOL may initially fall to as low as $76 as a result of this. If it fails to hold above the support at that price level, a further decline towards $65 could occur, Bitunix claims.\u00a0 Related Reading: Bitcoin Recovery: This Massive $500 Billion Investment Could Send Price Above $50,000 Technical analyst LuxAlgo also hinted at a price decline to $76 based on the chart, which they shared in an X post. They noted that Solana had broken its lows as expected and raised the possibility of a \u201csteeper drop\u201d being imminent.\u00a0 Source: X Meanwhile, crypto analyst Tryrex Crypto stated that he is betting on a crash back to $71 for SOL. He mentioned how tempting it might be to open a long position right now and expect a bounce on the current support level. However, he seemed skeptical of such a move as he claims that the previous bounce was \u201ctoo weak to maintain the trend.\u201d SOL price recovers to $87 | SOLUSD on Tradingview.com Solana To $150 Once All Is Said And Done In a more recent X post, Bluntz stated that the SOL ABC pattern is \u201cstarting to look done now.\u201d If that is the case, he expects a trend reversal as the next move to the upside should send SOL to above $150. In the meantime, he said that the crypto token is trying to test and reclaim its prior breakdown range.\u00a0 Related Reading: JP Morgan Reveals Likelihood Of Spot Ethereum ETFs Getting Approved Interestingly, crypto analyst Ali Martinez had raised the possibility of Solana rising to $150 in one of his previous price analyses. However, SOL then failed to close above the $106 price level, which Martinez had highlighted as being critical for this price prediction to materialize. Bluntz\u2019s prediction no doubt provides optimism that the $150 price level remains a possibility.\u00a0 At the time of writing, SOL is trading at around $86, up over 6% in the last 24 hours, according to data from CoinMarketCap. Featured image from ByteTree, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":571221,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[12837,89406,86420,83626,89405,85361,91307,86410,83627],"class_list":["post-571187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-sol","tag-sol-news","tag-sol-price","tag-solana","tag-solana-news","tag-solana-price","tag-solana-recovery","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\nAnalysts Reveal Next Steps As Solana Corrects Hard After 1000% Rally<\/title>\n<meta name=\"description\" content=\"Several analysts have given their opinion on what lies ahead for Solana (SOL) as it goes through a correction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Analysts Reveal Next Steps As Solana Corrects Hard After 1000% Rally","url":"http:\/\/uniquehot.com\/news\/solana\/solana-corrects-1000-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/solana\/solana-corrects-1000-rally\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Solana_e0ed0d.jpeg?resize=200%2C174","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Solana_e0ed0d.jpeg?fit=290%2C174"},"articleSection":"Solana","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["sol","sol news","sol price","solana","solana news","solana price","solana recovery","solusd","solusdt"],"dateCreated":"2024-01-24T15:30:54Z","datePublished":"2024-01-24T15:30:54Z","dateModified":"2024-01-24T15:30:54Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analysts Reveal Next Steps As Solana Corrects Hard After 1000% Rally\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/solana\\\/solana-corrects-1000-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/solana\\\/solana-corrects-1000-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Solana_e0ed0d.jpeg?resize=200%2C174\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Solana_e0ed0d.jpeg?fit=290%2C174\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"sol\",\"sol news\",\"sol price\",\"solana\",\"solana news\",\"solana price\",\"solana recovery\",\"solusd\",\"solusdt\"],\"dateCreated\":\"2024-01-24T15:30:54Z\",\"datePublished\":\"2024-01-24T15:30:54Z\",\"dateModified\":\"2024-01-24T15:30:54Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Solana_e0ed0d.jpeg?fit=290%2C174","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/571187"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=571187"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/571187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/571221"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=571187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=571187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=571187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}