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Can Solana’s price reclaim the $83? What to expect as SOL stalls at $78
['Benjamin Njiri', 'Written By', 'Reviewed By', 'Gladys Makena', 'Muriuki Lazaro', 'Ishika Kumari', 'Erastus Chami']
AMBCrypto
ADIf the slight retracement stops again at the zone with strong Spot demand, then $72 could become the mid-term support zone.
However, breaking below the crucial $72 demand zone would invalidate the bullish outlook.
Interestingly, similar institutional demand was also seen across U.S. Spot SOL ETFs.
In fact, U.S. Spot SOL ETF demand has been fairly positive in Q3 despite being relatively low compared to Q2.
Overall, Solana [SOL] fronted a bullish breakout from its July downtrend channel.