Solana (SOL) Price Analysis: Despite Market Crash, SOL Demonstrates Acute Strength, ATH Possible in Q4

The crypto markets have been shaken by the recent collapse but some of them are using this as a strong buying opportunity. As a result, Bitcoin

Despite the recent market downturn, some traders are viewing it as a buying opportunity. As a result, Bitcoin quickly recovered above $55,000, which sparked a strong uptrend in several altcoins, including Solana. Due to its early strength, a market shift was anticipated to propel the token's recovery.

During the previous day's trade, the SOL price reached a crucial support level near $120, attracting significant bullish volume. However, the current volume is less than half of yesterday's selling volume, which is a point of concern. Additionally, the TD sequential indicator continues to display a sell signal for Solana, indicating a potential dip below $135.

The TD sequential indicator is bearish but also suggests a potential reversal if the price surges above $146, which could invalidate the bearish trajectory. This move could also propel the SOL price above $150, potentially reaching $166. However, the token remains in a bullish range, and the next few days are critical for the SOL price rally.

Fortunately, the SOL price maintains a key support level in the long term, and the weekly candle remains green. This increases the likelihood of a new ATH in the coming quarter, possibly Q4.

According to the weekly chart, the Solana price encountered strong bullish support after experiencing one of its熊市 بازار ارزهای دیجیتال پر رونق تر هفته ها. While the RSI remains bearish within a descending parallel channel, there is a possibility of re-testing the support. However, the token seems to be enduring the bearish pressure, and if it manages to secure its level within the upper resistance zone between $152 and $158 by the end of the week, the bulls might drive the rally.

Therefore, the next few days are crucial for the Solana (SOL) price rally, which will determine the crypto's next price action.

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