Analysts predicted a sharp drop in Solana’s digital token by 13%

Cryptocurrency market experts have issued a warning about the value of the Ukrainian developer’s cryptocurrency. According to analysts, the price of Solana could fall by 13%.

Recently, Solana’s price has been fluctuating within certain limits — between the lower and upper price. Over the weekend, the price unexpectedly jumped beyond the upper limit, reaching $ 140. Many people thought it was the beginning of growth. But it turned out to be a false start. The price quickly returned to its usual range.

Such false starts often lead to a drop in the rate. Traders who believed in growth and bought the coin can now start selling it. Technical indicators also suggest a possible drop. It looks like the market is now dominated by sellers rather than buyers.

If the decline continues, the price of Solana could drop to $ 109. This is 13% below the current level. However, if new buyers appear, the price may try to break through the upper limit again and even rise to $ 161.

A few days ago, a well-known analyst at Kaleo shared a chart showing that SOL is now on its way to a new all-time high after holding support at $ 120. The analyst predicts that SOL will rise to a new record high of around $ 400.