๐ฅ Solana [SOL] Bearish Scenario That Can Play Out
SOL saw a crazy move over the last few months, which took the price from 18$ all the way to 125$. Since then, the price has not really seen any meaningful correction.
In my view, there's a risk that SOL can go down further and retest the bottom support of the parallel channel.
I've stated before that I expect BTC to further correct after the ETF was launched. Potentially, BTC can correct another 20-30 percent from the current value, which could be disastrous for alts like SOL.
Nevertheless, my long-term projections of this token are very good. So any buy from the lower yellow support could result in very good trade in the next 1-2 years.
For now, I'm bearish until BTC has either broken out through 50k or has corrected towards the 30k area.
In my view, there's a risk that SOL can go down further and retest the bottom support of the parallel channel.
I've stated before that I expect BTC to further correct after the ETF was launched. Potentially, BTC can correct another 20-30 percent from the current value, which could be disastrous for alts like SOL.
Nevertheless, my long-term projections of this token are very good. So any buy from the lower yellow support could result in very good trade in the next 1-2 years.
For now, I'm bearish until BTC has either broken out through 50k or has corrected towards the 30k area.
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