Analyst Predicts Deep Correction for Solana in the Coming Months
A well-known crypto strategist has revised his outlook on Solana (SOL), a competitor to Ethereum (ETH). The strategist, known as Pentoshi, believes that SOL could experience a dip of over 40% from its current value in the coming months. While he doesn’t expect it to drop as low as his prediction, he anticipates being able to buy SOL in the $70 range. Pentoshi also plans to hold some ecosystem coins for the next year.
Other Analysts Also Predict a Market Correction for Solana
Two other popular crypto traders are also forecasting a market correction for Solana. Altcoin Sherpa suggests that SOL may dip to Fibonacci retracement levels of $84.50 or $71.67. Meanwhile, Rekt Capital warns that SOL is close to flipping a key support level at $98 into resistance and potentially dropping into the $70 range.
Hot Take: Solana’s Future Outlook
The predictions of a deep correction for Solana in the coming months have sparked concerns among investors. However, it’s important to note that cryptocurrency markets are highly volatile and subject to unpredictable swings. While these analysts provide valuable insights, it’s crucial to conduct thorough research and consider multiple perspectives before making any investment decisions regarding Solana or any other cryptocurrency.
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