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⛓️ Crypto🔴 BearishImportance 6/10Actionable
Solana Technical Review Shows Potential Decline Toward $79–$72
🤖AI Summary
Solana (SOL) faces technical rejection at $87-$91 Fibonacci resistance levels, indicating potential Elliott Wave 3 downward movement. The bearish structure remains intact as long as SOL stays below $86.90, with downside targets ranging from $79 to $72.
Key Takeaways
- →SOL was rejected at $87-$91 Fibonacci resistance, signaling potential bearish momentum.
- →Maintaining price below $86.90 keeps the bearish technical structure intact for near-term declines.
- →Downside price targets include $79, $76, and major support between $74-$72.
- →Institutions hold $540M in SOL ETFs despite weak short-term momentum and no new inflows.
- →Elliott Wave analysis suggests SOL may be entering a third wave downward movement.
Read Original →via Blockonomi
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