Ethereum Rival ຊັ້ນນໍາສາມາດລົ້ມລົງໄດ້ຫຼາຍກວ່າ 35% ຫຼັງຈາກທີ່ລົ້ມເຫລວ, ນັກວິເຄາະ Crypto ກ່າວວ່າ

Popular crypto analyst Justin Bennett thinks Ethereum (ETH) ຄູ່ແຂ່ງ Solana (SOL) could be in for some rough days ahead.

In a new video update, Bennett says that Solana’s chart flipped bearish and its positive price action earlier in August appears to be a “confirmed fakeout,” or a bull trap.

“A fakeout to one side of a pattern like this typically produces an extended move in the opposite direction. So for Solana, that would mean a move lower as long as the market holds above that $45 area as new resistance.”

ທີ່ມາ: Justin Bennett/YouTube

Solana is trading at $40.86 at time of writing. The ninth-ranked crypto asset by market cap is down more than 6% in the past 24 hours.

Bennett says the $40 level is a critical area for the Ethereum (ETH) competitor.

“Now, this [around $40] is going to be a big support area for Solana to where if we were to see a daily close below this, then it would open up lower levels like some of these lows down here around $37.

However, I do think that a break of that magnitude would probably send the market down here toward about $32 at a minimum, if not all the way back here to retest the $26 low.”

A move to Bennett’s targets suggests a downside risk of between 21.68% and 36.37% for Solana from its current price.

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Featured Image: Shutterstock/DomCritelli/Yana Lesnik

Source: https://dailyhodl.com/2022/08/18/leading-ethereum-rival-could-crash-by-over-35-after-failed-breakout-says-crypto-analyst/