$SOL

🚨Is Solana a Good Buy Right Now?🚨

Another analysis of the Solana price shows that it has entered a clear period of downtrend, with the descending channel in the chart below showing lower highs and lower lows. The horizontal support zone for the token is between $141 to $144, an area from which the SOL price has bounced recently.

It aligns with the TD 9 exhaustion signal. Furthermore, SOL has broken out of the short-term trendline only slightly. If the price is able to persist above $144 and push past the $152 mark, it will break out of the falling wedge, creating a bullish reversal pattern. This will make the $160–$164 zone the next target.

However, if Solana fails to break $153 and falls back to its horizontal support, it could again set up an attempt to retest $141. A fall below $140 could push the Solana price into the $130–$135 area.

These analyses show that Solana is currently in a high-risk, high-opportunity zone. The falling wedge is near strong support, the TD Sequential indicator is showing a buy signal, and the volume pattern is supporting a bounce.

From a development perspective too, Solana has been forming new partnerships. Recently, lending platform Maple Finance expanded to the Solana blockchain to introduce its yield-bearing stablecoin, syrupUSDC.

These factors show that Solana and Solana-based cryptos could be smart picks right now.

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