Solana (SOL), the popular Ethereum rival, might be on the verge of a price rebound, according to a well-known crypto analyst.
Bullish Signal
Ali Martinez, a crypto analyst with over 70,000 followers on X (formerly Twitter), has spotted a bullish signal for SOL. He’s using a technical indicator called the Tom DeMark (TD) Sequential Indicator, which is often used to predict potential trend reversals.
Potential Targets
Martinez believes that SOL could bounce back from its current price and climb towards $154 or even $187. However, he also warns that if SOL closes below a specific support level, it could trigger a sharp drop to the $90-$110 range.
Market Sentiment
The crypto market is currently experiencing “extreme fear,” according to the Crypto Fear & Greed Index. This indicator measures market sentiment on a scale of 0 to 100, with 0 being extreme fear and 100 being extreme greed.
Disclaimer
Remember, this is just one analyst’s opinion. It’s important to do your own research before making any investment decisions. The crypto market is volatile, and any investment carries risks.
