Why Solana is likely to collapse to $105,000, according to expert
As Solana (SOL) trades just below the $200 mark amid broader market weakness, an analyst has suggested that the cryptocurrency could be on the verge of a sharp correction toward $105. This outlook, shared by TradingShot in a TradingView post on October 21, is based on Solana’s trading pattern since bottoming out in early April. Since then, the token has moved within an upward channel, consistently forming higher highs and higher lows. SOL price analysis chart. Source: TradingView The bullish structure has so far been supported by the 200-week moving average (MA), which acted as the foundation for the April rebound. However, the analyst noted that the latest pullback has exposed underlying weaknesses, bringing the token dangerously close to a key support level at the 200-day moving average around $165. Despite holding this level on four successive tests, the outlook indicates that Solana’s price action shows signs of waning momentum. The Relative Strength Index (RSI...
