Pundit Says Dogecoin And Solana Have Hit ‘Make It Or Break It Levels,’ Why This Is Good News

Dogecoin and Solana Approach Critical Turning Point

Cryptocurrency expert CrediBull Crypto has identified a pivotal juncture for both Dogecoin (DOGE) and Solana (SOL), labeling it their "make-or-break level." This assessment signals potential optimism as DOGE and SOL could be poised for a rebound.

Make-or-Break Point for Dogecoin and Solana

CrediBull Crypto notes that DOGE and SOL are at a critical crossroad, describing this as their make-or-break-it point. The analyst suggests that this phase could benefit both cryptocurrencies by providing relief to their respective markets. They also anticipate that altcoins could experience significant "relief" as Bitcoin potentially drives the overall market upward.

Dogecoin and Solana's Price Dynamics

CrediBull Crypto observes that both DOGE and SOL have reached their critical point at the same time as Bitcoin, the leading cryptocurrency, hits its range lows. By analyzing Solana's price chart from April to August 2024, the analyst predicts that if Bitcoin reverses its price trend, DOGE and SOL could follow suit.

According to CrediBull Crypto's previous analysis, Solana's ability to maintain its price within the green zone between $141 and $147 could allow for a higher high before a potential dip. Investors are advised to take profits within this green area and short again from a higher point.

Projected Reversal and Future Performance

CrediBull Crypto also forecasts further lows for Solana, with a target range of $115. However, both Solana and Dogecoin may experience a slight reversal, boosting their values amidst the broader market's downtrend.

As mentioned, this projected reversal is contingent on Bitcoin's price performance. At the time of writing, Bitcoin trades at $67,882, exhibiting notable declines despite significant inflows into Spot Bitcoin ETFs and strong market demand for digital assets.

Current Dogecoin and Solana Prices

Dogecoin and Solana have recently faced steep declines, highlighting their underperformance in the crypto market. DOGE currently trades at $0.14, marking a significant 13.79% decline over the past week.

Solana has also experienced a downturn, plummeting by 11.63% in the past seven days. This downward trend has persisted, pushing its price down to $152, representing a further 1.16% decrease in the last 24 hours.