- An analyst noted that SOL’s position above $75 was good for the price action.
- If buying pressure intensifies, SOL might ascend to $141.27.
- The odds do not entirely favor the upside due to indications from the DMI.
According to trader Crypto Tony, as long as Solana (SOL) trades above $75, the cryptocurrency remains in a bullish position. Tony made his opinion known on X (formerly Twitter) on January 13.
Via his post, the trader also showed a weekly chart of SOL, indicating that the price could soon rise above $140.
$SOL / $USD – UpdateBullish above $75.00. Keep those levels simple legends pic.twitter.com/IZV0Mpo8bY
— Crypto Tony (@CryptoTony__) January 13, 2024
Recently, SOL experienced a significant pullback as the broader market went through a notable correction. During that period, the SOL price fell to $92.95 despite rising above $110 a few days before that.
However, CoinMarketCap’s data showed that the value of the token recovered to $97.62. On January 13, SOL extended a lower leg down to $90.92 due to enhanced selling pressure.
Despite that, bulls made a bold attempt to revive the price by capitalizing on the same region and using it…
The post Analyst Claims a Solana (SOL) Could Be Set for a New High appeared first on Coin Edition.