Zenix Launcher - News 📰 | Trader Lays Out Bearish Scenario for Solana if History Repeats, Updates Outlook on Bitcoin and Dogecoin

A widely followed crypto analyst is warning that Ethereum (ETH) competitor Solana (SOL) could undergo a sudden market correction. Pseudonymous crypto analyst Rekt Capital tells his 363,800 followers on the social media platform X that if SOL fails to flip a key level into support, it could follow a prior price pattern to the downside.

Looking at the trader’s chart, he seems to refer to SOL’s price action in early 2021 when Solana witnessed a deep pullback after failing to take out its resistance at around $42. Next up, the trader says that Bitcoin (BTC) will likely continue to rally toward its diagonal resistance at around $42,000 before the halving. According to the trader, he expects BTC to retrace after hitting the diagonal resistance before turning it into support after the halving.

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