Solana pattern hints at massive 2,940% surge if validated
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Solana was last trading at around $125, down 1.39% in the last 24 hours but still less than half its all-time high reached in January, being swept up in the broader crypto slump of the past two months. Solana has been the preferred blockchain for meme coin creators, many of whom have been hammered particularly hard during this time.
On March 12, the Solana price completed a"death cross" on the one-day chart, indicating growing weakness. If the bulls fail to defend the last support level between $125 and $110, the SOL price could drop to $80. On the other hand, Solana must hold support between $125 and $110 for a bullish reversal.
In a bit of positive news, CME is preparing to launch SOL futures contracts on March 17, which will be among the first regulated Solana futures to hit the U.S. market after Coinbase launched in February.
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