A widely respected cryptocurrency strategist is updating his outlook for Ethereum (ETH) rival Solana (SOL).
Pseudonym: Cryptocurrency strategist Pentoshi says 738,500 followers on social media platform
“I’m not sure we’re as low as we are here, but I expect we’ll be able to bid $70 at some point. “We look forward to holding ecosystem coins in the next year or so as well as SOL transactions.”
Looking at his charts, the trader suggested that Solana could fall to around $70 in late March and then rebound to $90.
At the time of writing, Solana is trading at $99.64, up 13.27% in the last 24 hours.
Two other prominent cryptocurrency traders are also predicting a market correction for Solana.
Pseudonymous analyst Altcoin Sherpa says According to 204,900 followers on social media platform
“SOL: The plan is still there. The 0.382 and 0.50 Fib levels are areas of interest. I think both of these will be great long-term items. I sold some of my SOLs higher.”
Meanwhile, anonymous cryptocurrency strategist Rekt Capital said: says The 385,700 followers on social media platform
“Weak response in low range. This reaction was immediately canceled. Now SOL is threatening to lower its support range. A weekly close below the low range can begin the breakdown process into the green area below.”
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