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Solana and BNB: bullish and consolidation forecasts, says analyst
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The week began with signs of buyer dominance in the cryptocurrency market, according to analysis published by Denys Serhiichuk. While Solana (SOL) shows constant growth, Binance Coin (BNB) continues in a more conservative movement, accumulating energy for a possible future movement.
Solana price rose 3.82% in the last 24 hours, reaching $243.32 at the time of analysis. Despite the advance, the analyst highlights that the price has not yet consolidated above the peak reached the previous day.
“If today’s candle closes with a long upper shadow, sellers could regain control and push the price into a correction in the $225 to $230 range,” Serhiichuk explained.
The analyst also mentioned that traders’ behavior in the coming hours will be decisive. Closing above the current level could suggest a continuation of the uptrend. However, signs of weakness could open the door for a short-term pullback.
Solana and BNB may rise
While Solana shows a more aggressive movement, Binance Coin showed a slight drop of 0.67% in the last 24 hours, trading at US$620.77. The analyst noted that the daily chart reveals a decrease in trading volume, indicating low activity from both buyers and sellers.
“With the absence of strength on both sides, the most likely scenario is a sideways trade in the $610 to $650 range,” said Serhiichuk.
This consolidation can be seen as a period of accumulation, in which the market prepares for a more significant movement.
The bulls’ dominance suggests an optimistic outlook for major cryptocurrencies, but the technical behavior of coins like Solana and Binance Coin calls for caution
“The next few days will bring clearer signals about price direction, especially if Solana manages to sustain its rally and Binance Coin breaks out of its consolidation zone,” concluded the analyst.
Solana and BNB: bullish and consolidation forecasts, says analyst
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Solana and BNB: bullish and consolidation forecasts, says analyst
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Solana and BNB: bullish and consolidation forecasts, says analyst
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Solana and BNB: bullish and consolidation forecasts, says analyst
