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Solana Price Analysis: Potential Downside Ahead, But Long-Term Outlook Remains Bullish

SOLANA SOL Could See HUGE new All Time High!
SOLANA SOL Could See HUGE new All Time High!

In a recent video, analyst Nick from Cheeky Crypto analyzes Solana’s price action, indicating a short-term choppy structure and potential upcoming movements.

On the one-hour timeframe, Solana is in an overbought range, suggesting a potential move to the downside. Nick also mentions fair value gaps, indicating liquidity issues in Solana’s order books.

On the daily timeframe, Solana is below the 50 and 200 daily EMAs and in an overbought area on the daily stochastic, suggesting further downside. Nick predicts a potential move down to a range between $16.76 and $16.82.

On the weekly timeframe, Nick suggests that Solana’s price action may reach $2,000 in the future but emphasizes a more conservative range between $242 and $617.

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