Solana can finally break the downtrend! However, there is one point to be noted.

 Solana, one of the favorite altcoins in the cryptocurrency market, is trading at higher prices ahead of the Jackson Hole Symposium. SOL price could continue to rise until Friday morning.

Solana can finally break the downtrend! However, there is one point to be noted.

Cryptocurrencies in general may experience a drop over the weekend. Hence, they can start Monday with new lows.

Solana (SOL) price is being taken over by forces in the global markets as investors begin to lower trading volume ahead of the big event on Friday afternoon. With one of the most important Fed statements to be made by Jerome Powell at the Jackson Hole Symposium, weak liquidity offers a small window of opportunity to trade higher.

There will be warnings for investors to exit these positions before the announcement is made, as the Fed is not yet close to ending its aggressive tightening cycle and will dampen the positive mood in the markets with losses in hand for cryptocurrencies.

SOL price could crash 30% in a few minutes

Solana price is trading higher, gaining over 3% during the European trading session. However, the altcoin price is emerging from the bearish triangle that seems set to break below the monthly pivot, reaching $34 on Wednesday. Right now the bears are a bit stuck. Hence, a higher rally towards $40 could be seen. However, the timeframe is quite narrow.