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Buy Solana’s Fall (SOL) – Here are your 4-figure gains if SOL achieves an ATH

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SOL falls 60% in one month

The days when the Sol cryptocurrency SOL flirted with the $40 mark seem long gone. More than two months later, the SOL token is trading at less than $15 and the near-term outlook has changed dramatically in recent weeks.

According to CoinGecko data, the Solana token has lost 59.3% of its market value in one month and is trading at $13.40 at the time of writing.

This fall was accelerated by the FTX scandal, which particularly affected the project, due to its links to Alameda Research and Sam Bankman-Fried, former CEO of the second largest cryptocurrency exchange.

Nevertheless, SOL has risen 12% in the last week, but the fall has already been too great to see it back on top in the short to medium term. It will take time to overcome investor distrust of SOL and for the fallout from the FTX crash to gradually fade before it breaks the $30 barrier.

Bullish divergence for SOL/USD.

Technically, there is a bullish divergence with the RSI on the daily chart of the SOL/USD. The RSI has broken above the 30 level.

The setup is rather bullish. Considering that structurally the Solana blockchain still has integrity and that its ecosystem is still active and new DApps are created regularly, the current price of $13 seems to be an investment opportunity.

If Solana reaches your ATH of $260 and you had bought at $13, you will earn x18 or 1700%!

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The post Buy Solana (SOL) drop – Here are your 4-figure gains if SOL hits an ATH appeared first on The ₿log.

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