Top traders are divided on the future of Solana (SOL), with one predicting a big drop and others seeing a potential bounce.
Bearish Predictions:
One popular crypto analyst, known as Bluntz, is warning that SOL could be headed for a significant decline. He’s using the Elliott Wave theory to predict that SOL against Bitcoin (SOL/BTC) is forming a “top” and could soon fall below 0.0015 BTC. Bluntz describes the chart as “absolutely abysmal” and believes SOL/BTC could be in for a rough ride.
Bullish Outlooks:
However, not everyone is pessimistic about Solana.
Crypto trader Kaleo sees SOL as potentially gearing up for a breakout after testing lower support levels. He believes SOL could rally to $220 after dipping below $129.
Another trader, Cheds, is also bullish on SOL, stating that it has entered a price level historically attractive to buyers. He believes a bounce is likely.
What’s the Verdict?
The future of Solana remains uncertain. While some analysts are predicting a significant drop, others see a potential for a rebound. Ultimately, investors should conduct their own research and make decisions based on their individual risk tolerance and investment strategies.
