Solana Bounces With the Rest of Cryptos $SOLUSD cryptotrading
in general have been struggling to bit until the last couple of days, as it looks like we are trying to form a bit of a “floor the market.” That is something that we desperately need after we have seen such an explosive move to the upside, followed by a massive meltdown over the last couple of months.
Solana is still relatively new when it comes to institutional money, so it does make a certain amount of sense that they bailed on it rather quicklyAll things been equal, the $120 level underneath is significant support that we have seen tested a couple of times recently, and it does make a certain amount of sense that we would see potential pressure in this area.
At that point, I would be a buyer, expecting a move towards the $200 level above, which was an area of significant selling pressure. That being said, I think this is a market that has been oversold, as there is so much interest in Solana.
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