Despite a 7.5% drop in Solana's (SOL) value in one week, it's not the end of the beans for long-time investors. Indeed, this decline could even be a golden opportunity to accumulate assets before a potential recovery. The Sharpe Ratio, a key indicator of risk-adjusted performance, shows encouraging signs for the future of SOL crypto.
Solana’s rebound prospects
While Solana struggling to cross the $160 mark – at $150 it was already a question of a temporary correction or end of the crypto rally – some indicators suggest that the trend could reverse shortly. THE Sharpe Ratiowho fell in negative territory, has often been a buy signal in the past.
Historically, every time this indicator goes below zero, the price of SOL starts to rise againmarking a buying opportunity for informed investors.
In addition, Solana has strong support levels, notably at $140which should limit losses in the event of a further decline.
If the $155 threshold is crossed, a surge towards 161 dollars is possible. Otherwise, a relapse could bring the SOL back towards $140, or even beyond if this support were to give way.
Here are some numbers to watch:
- Short-term goal: $161;
- Critical Resistance: $155;
- Key support: 140 dollars.
SOL: The crypto asset of “Uptober”
Despite the headwinds, the forecast for October remains optimistic for Solana. Nicknamed “Uptober” in the crypto community, this month is often associated with bullish movements for altcoins like SOL. Market participants expect a rebound that could raise the price of Solana to highs of $200.
However, liquidity remains a major problem. THE lack of capital circulating in the global crypto market is slowing the progress of Solana. But all is not lost. The altcoin season, with a return of hedge funds to Solana, could offer a positive outcome.
Additionally, recent technological advances like the launch of Frankendancer and the preparation of Firedancer in 2025reinforce Solana’s position as a leader among high-performance blockchains.
The question remains open: Can Solana reach $200 again? Investors remain on the lookout.
Solana, a true concentrate of innovation, continues to attract the attention of financial giants such as Citibank and Franklin Templeton. Its blockchain remains a major asset in the crypto universe, ready to attract even more investors.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
