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<p>The post <a href="https://coinpedia.org/news/will-sol-crash-solana-price-prediction-for-august-13/" rel="noopener noreferrer nofollow">Will SOL Crash? Solana Price Prediction for August 13</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Solana (SOL), the world’s fifth-biggest cryptocurrency along with other top assets has been experiencing continuous selling pressure following the formation of a bearish price action pattern in its 4-hour time frame. This bearish pattern was also shared by a prominent analyst on X (previously Twitter) on August 13, 2024.</p>
<h2 class="wp-block-heading" id="h-will-sol-crash"><strong>Will SOL Crash?</strong></h2>
<p>According to the post on post on X, Solana has formed a bearish head and should price action pattern. If SOL breaches the $141 level, it could experience a massive sell-off to the $122 level.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a> could be forming a head and shoulders pattern in the hourly chart, which suggests that a drop below $141 might trigger a correction that sends <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> to $122! <a href="https://t.co/o39Vn0FY8z" rel="noopener noreferrer nofollow">pic.twitter.com/o39Vn0FY8z</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1823110174036349399?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 12, 2024</a>
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<h3 class="wp-block-heading" id="h-solana-price-analysis"><strong>Solana price analysis</strong></h3>
<p>At press time, SOL is trading near the $146 level and has seen a price decline of 2% in the last 24 hours. Additionally, it has been moving sideways throughout the days. Meanwhile, its trading volume has dropped by 17%, during the same period, indicating lower participation from investors and traders.</p>
<h2 class="wp-block-heading" id="h-solana-price-prediction"><strong>Solana price prediction</strong></h2>
<p>According to expert technical analysis, <a href="https://coinpedia.org/price-analysis/top-solana-killers-to-buy-for-massive-gains-this-month/" rel="noopener noreferrer nofollow">Solana (SOL)</a> is still in an uptrend as it is moving above the 200 Exponential Moving Average (EMA) on a daily time frame, despite a 10% price drop over the last four trading days. However, it has also formed a bearish head and shoulder price action pattern.</p>
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/08/13200555/SOLUSDT_2024-08-13_20-05-35.png" rel="noopener noreferrer nofollow"><img decoding="async" width="1024" height="448" src="https://image.coinpedia.org/wp-content/uploads/2024/08/13200555/SOLUSDT_2024-08-13_20-05-35-1024x448.png" alt="" class="wp-image-338301" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/13200555/SOLUSDT_2024-08-13_20-05-35-1024x448.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/13200555/SOLUSDT_2024-08-13_20-05-35-300x131.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/13200555/SOLUSDT_2024-08-13_20-05-35-768x336.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/13200555/SOLUSDT_2024-08-13_20-05-35-1536x672.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/13200555/SOLUSDT_2024-08-13_20-05-35-150x66.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/08/13200555/SOLUSDT_2024-08-13_20-05-35.png 1824w" sizes="(max-width: 1024px) 100vw, 1024px"></a>
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  Source: Trading View
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<p>If SOL gives a breakdown of this pattern and closes a 4-hour candle below $139, there is a high possibility it could fall to $120 or $122 in the coming days. Currently, SOL is consolidating in a tight range between $141 and $148 over the last two days. To remain uptrend, it has to hold itself above the $141 level.</p>
<h3 class="wp-block-heading" id="h-sol-s-open-interest-nbsp"><strong>SOL’s open interest&nbsp;</strong></h3>
<p>Due to the current bearish chart pattern, SOL’s open interest has also dropped by 0.5% in the last 24 hours. This drop in open interest indicates a lower interest from investors and traders, in this range-bound market.</p>

Will SOL Crash? Solana Price Prediction for August 13

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