Solana's 10% Drop Sparks Investor Concern, But New Buy Signal Hints at Potential Bull Rally
June 17, 2024Solana's price has dropped nearly 10% in the past week, raising investor concerns.
A recent buy signal near the $141 mark has sparked hope for a potential recovery.
The fear and greed index indicates a 'fear' phase in the market, suggesting bullish momentum may be imminent.
On-chain metrics such as the Funding Rate, Open Interest, and volume indicate a possible price increase.
Despite bearish indicators like RSI, CMF, and MACD showing a downward trend, a trend reversal could push SOL above $145.
If SOL surpasses $145, it could trigger liquidations and short-term price corrections.
A drop to $139 is possible if the downtrend continues, but there is optimism for a potential bull rally for Solana in the near future.
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