In the past few weeks, the world of digital assets has witnessed some very unusual developments. We have witnessed both state leaders and global stars destabilize the ecosystem by issuing tokens.
These tokens, especially in the SOL ecosystem, raised the SOL price to 295 levels with the effect of hype at first. However, this movement, which also damaged the ecosystem, caused the SOL price to drop to 160 dollars after a short period of 1 month. However, it seems that the marginal benefit of these changes in the ecosystem affected by both US President Donald Trump and famous names such as CZ has diminished. Therefore, we think that in the next period, the ecosystem and SOL, which is also the local token, will gradually enter its natural process again. For these reasons, when we evaluate the price changes in BTC and the metrics based on it, we predict that SOL may target the $225 level in technical terms.
As the chart shows, the relative strength index (RSI – 14) has formed a bullish divergence. At the same time, when we look at the fibonacci retracement, the 0.5 level, which is the retracement point of the downtrend, corresponds to the level of 225.32 dollars. Considering all these data, we think that technical and fundamental indicators point around the level in question, albeit with certain risks.
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