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Solana (SOL) Price Prediction for February 12
The recent market bounce has not been long-lived, and most coins are now back in the red zone, according to CoinStats. This is an unfortunate development for SOL holders, as the coin’s price is currently plummeting at a rapid pace.
As of press time, SOL trades at $192.02, which is a significant drop from its previous value. While it’s difficult to make precise predictions about the future, our analysis suggests that SOL will likely continue its downward trend in the short term.
On the hourly chart, the price has dropped below the local support of $193.13, indicating a potential decline to $185 soon. If this happens, traders may see the coin fall further to $175.89 by the end of the week.
From a midterm perspective, no reversal signals have been detected yet, which is cause for concern among investors. The only glimmer of hope lies in the possibility that SOL could bounce off the interim zone of $180 and head towards the target price level of $157.
However, it’s essential to remember that the crypto market can be highly unpredictable, and these predictions are based solely on current data. As such, they should not be taken as investment advice.
For now, SOL holders will have to sit tight and wait for further developments before making any decisions about their investments.
Source: u.today
