Solana plummets to $141, bottoming out, double bottom reversal signals ignite expectations for an explosion!
On June 13, Solana (SOL) faced a geopolitical blow, dropping to $141.56, hitting a new low since June 5, with heightened market risk aversion and investors nervously on the sidelines. However, the technical chart shows a 'lifeline'—the double bottom pattern reveals strong bullish signals. If SOL can hold the support, it is likely to trigger a wave of strong rebound!
The market is also watching the key bullish flag; once the resistance zone of $150-160 is broken, Solana is very likely to see explosive growth, re-enacting the remarkable increase of 686% in 2024. Institutional funds are eager to move, with rumors of Solana ETF approvals continuously rising, boosting expectations for explosive buying.
On-chain data cannot be ignored: Solana DeFi TVL hits a new high, DEX monthly trading volume exceeds $151 billion, and the ecosystem's activity enhances the underlying value. Although short-term impacts are still influenced by the Israel-Iran situation, and the BTC market trend is critical, the long-term bullish momentum is clear. Investors should closely monitor the $160 level, and a drop below $140 would warrant caution for correction risks.
Any adjustments in Solana are buying opportunities; missing out may lead to regrets! Who will laugh last in the future? The curtain on SOL's strong rebound is about to rise!
