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Solana Could Target A 20% Hike If It Retests This Level

The Solana price continues to display bearish movement on the daily chart. Over the last 24 hours, the altcoin dipped close to 4%. In the past week, SOL depreciated 12%. But at the moment, Solana is trading near a crucial resistance level below $22, and overturning this price mark could change the price direction of the altcoin.

Currently, the price structure of Solana has demonstrated bearish strength. Demand for the altcoin remained considerably low, with limited buying strength. As a result, accumulation also dipped. Demand for SOL could rise over successive trading sessions if bulls push the price above the overhead price ceiling.

The coin was also right above its crucial support level. Retesting that level might present traders with fresh buying opportunities. With Bitcoin consistently fluctuating on its chart in the past trading sessions, major altcoins present undecided price momentum.

Solana Solana $247.54
+0.84%
Solana
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