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**Solana (SOL) Price Prediction for January 4**
As we enter the new year, it’s essential to assess the current market sentiment and potential trends in the cryptocurrency space. In my previous analysis, I highlighted that SOL is unlikely to break out of its current range in the near term. However, recent developments have led me to reevaluate my previous prediction.
According to my technical and fundamental analysis, Solana (SOL) is expected to remain bearish over the next few weeks. The cryptocurrency has failed to breach the key resistance levels at $240-$250, which suggests that buyers are hesitant to enter new positions. On the other hand, sellers have not shown enough strength to push SOL further down.
As a result, I believe that the price will continue its consolidation and range-bound trading between $220-$230 for the next few weeks. This scenario is supported by the recent market data and sentiment, as most altcoins are struggling to regain their momentum.
In my previous analysis, I mentioned that it’s essential for SOL to break out of this range and reach new highs above $300 before we can consider a more significant upswing. Unfortunately, those conditions haven’t been met yet, which means that the current bearish sentiment will continue to prevail in the near term.
While it might be disappointing news for some investors, I firmly believe that SOL has tremendous potential to outperform other altcoins as it’s one of the most promising Layer-1 blockchains. However, we need to wait until the overall market sentiment changes and buyers regain control over the charts.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today.
Source: u.today
