Solana Price Analysis — January 24
Amid the recent network outage, SOL suffered a massive breakdown as it sliced through multiple support levels to bottom out at a five-month low of around $90. Bears appear to have no intentions of letting go anytime soon as the cryptocurrency lost the mild rebound it managed yesterday.
That said, SOL is likely to toe a bearish continuation path towards $80 or lower in the coming days. This bias is supported by the hawkish stance maintained by the US Fed ahead of the FOMC meeting on Wednesday.
Meanwhile, my resistance levels are $100, $110-, and $120, and my support levels are $80, $70, and $60.
Total Market Capitalization: $1.61 trillion
Solana Market Capitalization: $27.5 billion
Solana Dominance: 1.71%
Market Rank: #8
That said, SOL is likely to toe a bearish continuation path towards $80 or lower in the coming days. This bias is supported by the hawkish stance maintained by the US Fed ahead of the FOMC meeting on Wednesday.
Meanwhile, my resistance levels are $100, $110-, and $120, and my support levels are $80, $70, and $60.
Total Market Capitalization: $1.61 trillion
Solana Market Capitalization: $27.5 billion
Solana Dominance: 1.71%
Market Rank: #8
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