Recently, the decline in the crypto currency market has also put pressure on the solana (left) price. However, the famous analyst Raoul Pal said that the left is in the over -selling zone and that he could recover soon. Technical indicators and historical data point to Solana’s rise potential in the coming period.
Technical Data and Market Analysis
Raoul Pal says Solana has reached 2 standard deviation exceeding points in the log regression channel. He also points out that the SOL has recorded the weakest RSI (relative power index) since the lowest levels in 2022. RSI, which declined to 25.73 on February 26, indicates that the asset is located in the over -selling zone. SOL, which returns from similar levels in the past, is expected to recover again.
According to CoinMarketCAP data, the price of the SOL is traded at $ 137.16, an increase of 0.47 %in the last 24 hours. Solana, who lost 21 %in recent weeks, gives recovery signals despite the fluctuations in the market.
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Historical trends and expectations
Solana has made significant rise in March in the past. In March 2021, 49 %increased in 2022, 23.2 %and 60.8 %in 2023. According to past data, the Left, which increased by an average of 32.4 %in March, can perform similar performance in this period.
Regulatory developments also show that the interest in Solana may increase. Explanations of the US Securities and Stock Exchange Commission (SEC) regarding some regulations may lead to a decrease in pressure on alternative digital currencies. In addition, the evaluation of a relevant ETF application is seen as a factor that can increase the interest of corporate investor.
Analysts say that Solana is likely to recover in the light of historical great trends and technical indicators. However, it is emphasized that investors should act cautiously by taking into account the fluctuations.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
