{"id":7929,"date":"2024-09-18T22:30:22","date_gmt":"2024-09-18T22:30:22","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=7929"},"modified":"2024-09-18T22:30:22","modified_gmt":"2024-09-18T22:30:22","slug":"solana-sol-could-crash-40-if-it-stays-below-140-top-analyst-shares-insights","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=7929","title":{"rendered":"Solana (SOL) Could Crash 40% If It Stays Below $140 \u2013 Top Analyst Shares Insights"},"content":{"rendered":"

Solana (SOL) faces significant risk as the broader cryptocurrency market rebounds from local lows, yet SOL struggles to break above the crucial $140 resistance level. This underperformance has raised concerns among investors, with many worried about Solana\u2019s inability to keep up with the market\u2019s recent surge.\u00a0<\/p>\n

Some analysts are even predicting a deep retrace to its yearly low of around $78 if the price continues to lag. Despite holding relatively well during Bitcoin\u2019s and other altcoins\u2019 earlier crashes, Solana\u2019s current price action suggests that the risk of a correction is growing.\u00a0<\/p>\n

If SOL<\/a> fails to break above $140 and align with the market\u2019s recovery, it could face a steeper downturn. While Solana previously weathered market turbulence better than some of its peers, there\u2019s a growing belief that now may be Solana\u2019s turn to experience a significant fall. Investors are keeping a close eye on upcoming movements.<\/p>\n

Solana Struggling To Keep Bullish Momentum<\/h2>\n

Solana (SOL) has retraced over 7% this week, while many other altcoins surged, posting double-digit gains. This raised concerns among investors, who fear SOL might follow the same trajectory many altcoins experienced in recent months. <\/p>\n

One prominent analyst and former asset manager, Amdtrades, with over 9 years of experience, shared a technical analysis of Solana\u2019s price action<\/a>, highlighting some concerning price targets.<\/p>\n

According to Amdtrades, Solana is at a crucial crossroads. If it fails to break past the $140 resistance level\u2014a fundamental price point that once served as strong support\u2014a deep correction could follow. He noted that the first key level to watch is $115, which could trigger further downside if breached. <\/p>\n

After that, SOL could drop to $100; in a worst-case scenario, it may fall as low as $78. If it drops to the lower prices, it would represent a 40% correction from current levels.<\/p>\n

The risk of Solana hitting these lows remains high, especially if it continues to struggle while other cryptocurrencies recover. However, Amdtrades also emphasized the potential for a rebound. <\/p>\n

Should SOL break and hold above $140, it could spark a recovery and possibly reverse the negative trend. Investors are now carefully watching these levels to see if Solana will face a deeper pullback or find the strength to regain momentum.<\/p>\n

SOL Price Levels To Watch<\/h2>\n

Solana (SOL) is currently trading at $130, a crucial level that could determine its next move. After testing the $140 resistance, the price faced a 7% rejection, raising concerns among traders. <\/p>\n

The $140 mark coincides with the daily 200 exponential moving average (EMA) at $139.26, a significant technical indicator that had provided support since October last year but has now flipped to resistance. This reversal has created added pressure on SOL bulls to regain control.<\/p>\n

SOL must break above this EMA and reclaim the $140 level for a bullish reversal. If bulls succeed, it would clear negative market sentiment and likely trigger an aggressive 20% surge toward the next supply zone around $163. However, failure to reclaim these levels could lead to a more bearish outcome.<\/p>\n

If the price continues to lag and cannot break past the $140 mark, SOL could face a deeper correction, with the potential for a 15% drop toward $110.<\/p>\n

Featured image from Dall-E, chart from TradingView<\/p>","protected":false},"excerpt":{"rendered":"

Solana (SOL) faces significant risk as the broader cryptocurrency market rebounds from local lows, yet SOL struggles to break above the crucial $140 resistance level. This underperformance has raised concerns among investors, with many worried about Solana\u2019s inability to keep up with the market\u2019s recent surge.\u00a0 Some analysts are even predicting a deep retrace to […]<\/p>\n","protected":false},"author":0,"featured_media":7930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7929"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7929"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7930"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}