Solana (SOL) price dropped by 3.85% today, reaching around $129.98. Despite this decline, some analysts remain optimistic about the future performance of the coin.
One such analyst is YouTuber Tyler Hill Investing, who has a channel with 93.4k subscribers. Hill posted a high-quality video explaining his SOL price predictions. Hill notes that he believes Solana’s price is showing positive signals in the market, and explains why.
According to Tyler Hill, Solana price has strong support within a key Fibonacci area, located between the 618 and 786 levels. This area has been pivotal in determining the price action of the coin over the past months. Hill points out that Solana’s ability to hold this support could open the door to higher price targets, possibly reaching $250 or even $300, provided that overall market conditions improve.
The technical analysis provided by Hill is in line with other indicators in the market that suggest Solana could perform well in the future. If the uptrend continues in this support area, the coin could continue to attract investor interest and post significant gains.
A watch.
