Solana Risks Further Drop Amid $180 Support Retest – Is The SOL ‘Memecoin Fie...
Solana (SOL) recently lost its key support zone amid the controversial Libra (LIBRA) token launch and crash. The cryptocurrency has dropped over 12% in the last three days and some analysts suggest it risks a deeper correction to monthly lows. Related Reading: Cardano Price Eyes Impulse Move After Bearish RSI Divergence Was Invalidated, Here’s The Target LIBRA Token Crashes Solana’s Party The Solana network has been the talk of the town this cycle due to the memecoin frenzy, as it has been the go-to chain for these projects. The cryptocurrency has also been one of the leading tokens over....
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Solana (SOL) has seen a nearly 40% retrace over the past month, losing key support levels since February. As its price retests a key horizontal level, some analysts warn of a potential 50% correction to a yearly low. Related Reading: Solana Falls Under Realized Price: Here’s What Happened Last Time Solana Loses Key Support Level Solana has been one of the leading cryptocurrencies of the cycle, fueled by the market’s memecoin frenzy. The altcoin climbed over 270% in a year to its latest all-time high (ATH) of $270, registered nearly two months ago. Nonetheless, SOL’s bullish sentiment has....
Crypto analyst MadWhale has suggested that the Solana price could witness more downward pressure in the coming days. Specifically, the analyst predicted that SOL was at risk of a decline to $125 as it retests a key support level. Solana At Risk Of A Drop To $125 With Support Retest In a TradingView post, MadWhale predicted that the Solana price was at risk of dropping to as low as $125 with the retest of the $164 price level, which is a key support level on the horizon. The analyst noted that this is a pivotal support level that has previously proven strong. However, he warned that it....
Amid the market retrace, Ethereum (ETH) has lost its key $2,600 support zone and fallen below the next crucial level. As the second-largest cryptocurrency by market capitalization attempts to hold its current range, some analysts predict a 6% drop could be coming. Related Reading: Solana Sentiment Hits 1-Year Low Amid Market Correction – Analyst Suggests Drop To $70 Ethereum Risks Fall To $2,180 Following the $1.5 billion hack of crypto exchange Bybit, the crypto industry experienced a market correction that sent most cryptocurrencies below their key support levels. Bitcoin’s price fell....
After reclaiming crucial levels, Solana (SOL) has been moving sideways within a key price range, with its next direction yet to be determined. However, some analysts suggest a breakout could kick-start a new bullish rally in the coming months. Related Reading: Monero (XMR) Price Jumps 50% Amid ‘Suspicious’ $330 Million BTC Transfer – Details Solana Moves Within Key Range Amid its 15% biweekly recovery, Solana, one of the leading altcoins of this cycle, has attempted to reclaim a crucial resistance after recovering the $140 support for the first time since late February. Earlier this month,....
This week, the dog-themed sensation Dogwifhat (WIF) has recovered from its drop below the $2 support zone. The Solana-based memecoin flipped Ethereum’s Layer-2 (L2) Arbitrum (ARB) and is currently testing the $2.5 resistance level. However, a crypto analyst has warned investors of a possible retrace for WIF. Related Reading: Injective (INJ) Breaches Key Resistance, Setting Stage For 1,350% Boom — Analyst WIF Puts Its Hat Back On Dogwifhat became the memecoin sensation of 2024’s first quarter (Q1), giving returns of over 2,000% earlier this year. The Solana token reached an all-time high....