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Solana Price Prediction: Is the Pullback Just a Setup?
- Solana has experienced a 27% drop since May 23, forming a bearish 4H market structure.
- The daily chart, however, still shows a bullish trend with a potential demand zone near $120.
- Liquidity sweeps below key support could indicate a reversal, pending confirmation.
- Despite short-term bearish signals on the 4H chart, the broader market structure for Solana remains bullish.
- Price revisiting key zones and shaking out late bulls may be a setup for a potential upward move.
- A recent liquidity sweep below key support on the H4 chart, above a demand zone, suggests a possible reversal.
- Short-term price prediction for Solana hints at an upward push following recent liquidity grabbing and demand zone respect.
- However, confirmation is essential as the market remains bearish on the 4H chart.
- Long-term outlook remains bullish as Solana maintains higher lows, respects demand zones, and follows an overall bullish trend.
- Traders are advised to stay nimble, manage risk, and be prepared for various price scenarios in the crypto market.
- Remember that market movements are possibilities, not certainties, and it's crucial to be prepared for different outcomes.
- The article emphasizes the importance of zooming out, maintaining a trading strategy, and being ready for potential market fluctuations.
- While short-term volatility may occur, the macro structure of Solana suggests a solid foundation for the future.
- Traders are encouraged to be prepared, adaptable, and mindful of risk management strategies in the crypto trading environment.
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