Solana (SOL) Poses a Risky Opportunity for Short-Term Investors: Signs of Potential Price Spike

Solana (SOL) has been indicating a risky buying opportunity for short-term investors. The trend and market structure in larger time frames had a bearish inclination, but analysis of the 4-hour and 1-hour charts pointed towards a possible price spike. Bitcoin (BTC) managed to reach $31,300 on June 23, the highest level it has attained in 2023. The previous local peak was $31,000 in April. This has revealed bullish expectations, but the price action of the previous week showed that a retracement should not be overlooked. This has rendered the crypto market riskier, and traders may be ready to cut trades on potentially invalid transaction expectations. Will Solana Rise? The 4-hour structure was pointing downwards. After Solana SOL rose to the $17.75 level, it created a higher bottom at $16.16 on June 23. Since then, the price fell, reaching $15.89 on June 27. A series of lower peaks also formed as […] The post Solana (SOL) Poses a Risky Opportunity for Short-Term Investors: Signs of Potential Price Spike appeared first on COINTURK NEWS.