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Solana price prediction: Is $130 the next target as SOL fails to reclaim $155?

2min Read

The bearish momentum could propel Solana below $140 toward $130 or deeper to the range low.

Solana prices headed toward three-month range lows after failure to reclaim $155
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  • The mid-range support’s failure was a heavy blow for the bulls.
  • A move toward the $122 range low is possible, but the $140 level could also hold the sellers off.

Solana [SOL] was below the $150 mark again and the bearish hurdles were getting bigger. The breakout past $160 was expected to yield a move to the range highs at $190, with sentiment also turning bullish last week.

This did not last.

Bitcoin [BTC] bulls were rejected at the $62.5k resistance zone. The king of crypto’s pullback saw Solana follow in its footsteps, and this journey likely has another leg southward.

The Solana mid-range support was decisively breached

Solana 1-Day TradingView

Source: SOL/USDT on TradingView

Solana traded within a 3-month-old range that extended from $122 to $186. The mid-range level at $154 had confluence with the 50% Fibonacci retracement level, plotted based on the rally in February and March.

These levels were still pertinent, with the 78.6% level coinciding with the range lows. The buyers’ failure to defend the mid-range support over the weekend meant the short-term bias was bearish again.

The OBV bounced from the June lows, showing some bullish strength. However, the MACD formed a bearish crossover and fell below the zero line. The momentum was firmly bearish and the demand was not high enough to repel them.

Could the $140 liquidity pocket reverse the bearish tides?

Solana Liquidation Heatmap

Source: Hyblock

AMBCrypto observed that there was a sizeable pocket of liquidity at $140. This is likely to attract prices lower. However, it was also a place where a bullish short-term reversal occurred on the 7th of August.


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Traders will have to be wary of a similar scenario playing out. Overall, the lack of demand and bearish momentum could propel Solana below $140 toward $130 or deeper to the range low.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

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Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories. His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity. Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution. As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.
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