A popular crypto trader, Credible Crypto, is cautiously optimistic about Solana (SOL), even though it’s seen as an Ethereum competitor.
Solana’s Recent Success
Credible Crypto, who boasts a large following on X, believes Solana has passed a crucial test. After bouncing back from a key support level between $165 and $190, SOL even hit a new high of around $293.
The Catch: Bitcoin’s Influence
However, Credible Crypto isn’t fully bullish yet. He points to the Solana/Bitcoin (SOL/BTC) pair as a major factor. While the SOL/USD price is rising, the SOL/BTC pair is facing strong resistance around 0.003 BTC. This resistance could either slow Solana’s climb or trigger a significant price drop.
The Path to Full Bullishness
Credible Crypto explains that if the SOL/BTC pair breaks through the 0.003 BTC resistance level, he’ll become fully bullish on Solana. Until then, he sees a significant pullback as quite likely.
Current Solana Price
At the time of writing, Solana is trading at $237.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
/p>
