Analyst Sees Bullish Signals for Solana Amid Market Despair
- Solana (SOL) is currently trading at $84, down 4.5% on the day.
- A bullish divergence has been identified on the four-hour chart.
- The analyst suggests SOL may complete a three-wave correction and target $110 soon.
- Investors are reportedly using recent price corrections to accumulate more SOL.
The pseudonymous analyst Bluntz believes that Solana’s price action indicates potential for a breakout, as it has shown bullish patterns despite overall market pessimism. The recent pullback to the $70 and $80 range is seen as a buying opportunity for investors aiming to increase their holdings in SOL.
With signs of accumulation and technical indicators suggesting upward momentum, there is cautious optimism around Solana’s recovery trajectory. (Source)
