In the past few days, Solana (SOL) has struggled to keep itself between the particular range of $80.83 and $104.82. So far, it seems that Solana has managed to do it as it is currently revolving around $1.06. This means that the bulls are not leaving their side and are trying to keep it above the $100 mark.
However, the situation may fall into the hands of the bears who may drive Solana’s price in the lower direction. In the past few days, the investors have not only tried keeping Solana in the mentioned price range but have tried harder.
The bulls have tried pushing the value of Solana even higher but they were not able to generate a strong enough rally to push its price over the particular range.
Despite all the efforts, the bulls haven’t been able to push the price of Solana higher. However, the bears have found this to be the perfect opportunity to press Solana lower. It is now being predicted that the bears may launch a high-level selling activity to initiate a bearish trend.
They may succeed in start selling Solana on a larger scale to bring it below the $100 per SOL figure. If that happens, then the investors may start siding with the bears and change the situation of Solana entirely.
At the moment, the ball is somewhat between the bulls and the bears. Therefore, the price of Solana can be driven in any direction. However, if the bears launch their selling spree, their power and intensity would be much higher than the bulls.
This may cause another major plummet in the price of Solana in the upcoming days. It is being predicted by TradingView that the price of Solana may get pushed down to $93.27 per SOL. This would be the second strong support mark for Solana.
The bulls may gather at the particular ($93.27) per SOL figure in order to support its downward price. If that happens, then the price of Solana may be pushed even lower. If the bears are able to cause a downslope, then the price of Solana may climb down to $87.63 per SOL.
If the bears continue releasing more and more Solana, then they may succeed in bringing its price even lower. The bears may get the opportunity of bringing SOL down to $80.83. This would kill all the positive sentiments that the investors would have left about SOL, initiating a major selling spree. This would bring the price of SOL all the way down to $66.03.
On the other hand, the bulls may get the opportunity of making a comeback just as SOL hits the $80.83 price. If the bulls launch their counter and keep pushing with their buying power, they may manage to bring the SOL price up to $116.