Solana Price Prediction: The Solana (SOL) coin recovery has recently encountered a significant roadblock, with its price stalling at the $67 mark amid growing uncertainty in the cryptocurrency market. This has resulted in a two-week correction, during which the SOL price decreased by 23%, testing the support level at $51.40. However, according to Fibonacci retracement levels, this correction remains within a ‘safety zone,’ suggesting that the bullish trend for this altcoin could likely resume.
Also Read: Solana (SOL) Makes History With About 51M Surge in Daily Transactions
A Healthy Retracement May Prolong Recovery
Rounding bottom pattern governs a recovery trend in Solana price
The falling price may find suitable support of $51 and $42.5.
The 24-hour trading volume on the Solana coin is $793 Million, indicating a 34% loss.
Source-Tradingview
The daily chart indicates that the Solana price recovery is aligning with a rounding bottom pattern, a bullish indicator that often signifies
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