Solana Records Growth in Institutional Investments Amid Bearish Trend – Will SOL Bounce Back?

Solana has seen a dramatic 7,600% rise in institutional investments, even as its price declines, down nearly 5% in the last 24 hours. The significant inflow of funds could signal a possible price rally for SOL shortly.

However, the ongoing bearish trend raises questions about whether Solana can regain its momentum. This bearish sentiment follows an unexpected drop in Bitcoin's price, which has impacted the broader market.

One analyst warns that this downturn might worsen in the coming weeks. This analysis examines the potential next moves for SOL and whether a rebound is on the horizon.

Solana SOL Signals Bearish Sentiment, Resistance at $138 Critical for Recovery

SOL has slipped off the $160 price level attained on August 27. It has bottomed at $120, where the price gradually retraces. This represents a 25% decline from $160. Solana is trading at $128, marking a 4.85% decrease in the past 24 hours, with a 12.87% seven-day price drop.

Several indicators paint a bearish picture for SOL. It is trading below its 200-day (red line) and 50-day (yellow line) moving averages, a clear sign that sellers are in control.

Additionally, the Moving Average Convergence/Divergence indicator is at -2.47, with its signal line also trending downward. This suggests that the momentum in the market is negative, and further price declines could be on the horizon.

However, there is still a chance for recovery if more buyers enter the market. The $120 price level could act as a support. If this support holds, the SOL's value could bounce back, breaking the first resistance at $138.

Breaching this resistance threshold could signal a shift in momentum and possibly lead to a bullish reversal. In the meantime, investors should be cautious as the bearish sentiment persists based on analyst predictions.

Investors must monitor these technical indicators closely and consider setting stop-loss orders to protect their investments.

Analyst Predicts Worsening Bearish Sentiment: Eyes $55 Target

A well-known analyst, Alan Santana, has predicted a steeper decline for Solana (SOL), setting a new target at $55. This suggests a more severe downturn than previously expected.

Santana pointed out that the $55 level lacks strong support, which could worsen the decline. In his analysis, Santana compared Solana's potential to succumb to Ethereum's recent struggles. He warned that Solana, being a more minor asset, might face a harsher crash.

Santana's analysis highlighted the importance of Fibonacci retracement levels (0.786), with $58.82 as a significant support zone. If Solana drops below this level, the bearish trend could continue.

In supporting this bearish sentiment, the analyst spotted a descending trendline. He even expects SOL to decline to around $32 level.

This would reach a date of 19 September for the final low. This is highly speculative guessing, but there you have a map. There can be a bounce followed by a lower or higher low," says the analysis.

While Santana remains cautious, another analyst suggested that Solana could rebound if the price breaks above key resistance levels.

Analyst Predicts Solana to Mirror Ethereum's Market Pattern

Analyst Benjamin Cowen predicts Solana could follow Ethereum's past trend against Bitcoin. He notes that Ethereum saw a 500% rebound after a significant drop before consolidating. Cowen believes Solana could experience a similar trajectory, potentially leading to a recovery.

While Cowen acknowledges the past 90% drop in SOL, he highlights the possibility of consolidation and a rebound. This could mirror Ethereum's earlier movements, offering hope for Solana investors.

As Solana stabilizes, investors might consider upcoming projects like Pepe Unchained, which have high potential and could see a 10X return once launched.

Pepe Unchained: A Promising Alternative to SOL Amid Market Uncertainty

With market fluctuations creating uncertainty, investors seek alternatives offering stability and potential growth. Pepe Unchained is emerging as a strong contender, gaining attention for its promising features and potential for substantial returns.

Let's explore why Pepe Unchained could be the next big opportunity for savvy investors.

Pepe Unchained ($PEPU) Raises $11 Million Amid Strong Demand

Pepe Unchained ($PEPU) has quickly surpassed $11.9 million in its ongoing ICO, reflecting high investor confidence in the project. Also, the project's staking platform is achieving significant results.

According to the official website, over 879 million $PEPU have been staked on the platform. The staking reward is 170% APY. Notably, this percentage will drop as more tokens are staked.

Currently, PEPU is selling for $0.0094982. As demand grows, the token price is expected to increase, making this a prime time to invest.

Pepe Unchained's Layer-2 Blockchain and Tokenomics Drive Interest

Pepe Unchained has taken a significant step forward by building its Layer-2 blockchain, addressing scalability issues. This starkly contrasts Pepe Coin (PEPE) and other memecoins that lack tangible utility.

The token's well-designed tokenomics, including a capped supply of 8 billion tokens and 30% allocated for staking rewards, positions it for long-term success.

With strong community backing and endorsements from popular crypto pundits, Pepe Unchained (PEPU) is poised to deliver massive gains.

Specifically, ClayBo, a YouTuber with over 130,000 fans, predicted the token could surge 100x. If PEPU mirrors PEPE's performance, early investors could profit massively. Visit the Pepe Unchained website to buy $PEPU today.

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