Solana Records New Monthly User High Amidst Persistent Price Drop
Solana (SOL) has had a turbulent time lately evident with a consistent decline in its market price. According to data from CoinMarketCap, the “Ethereum Killer” is down by 6.36% on its weekly chart, emerging as the biggest loser among the top 10 tokens. Interestingly, this price dip depicts the larger negative performance of SOL in which it has lost 24.61% of its value in the last month. However, amidst this mayhem, the Solana network has hit a significant milestone which may spark some excitement for investors. Related Reading: Solana Could Face A 41% Crash, Warns Mechanism Capital....
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Solana started a fresh increase from the $165 zone. SOL price is showing signs of strength and might climb further above the $182.50 resistance. SOL price started a decent upward move from the $165 support against the US Dollar. The price is now trading near $175 and the 100-hourly simple moving average. There was a break above a connecting bearish trend line with resistance at $170 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could aim for more upsides if it clears the $182.50 resistance level. Solana Price Remains In Positive Zone Above $165 Solana price....
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....
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....
Despite $SOL’s recent dip to $131, 55% below its all-time high of $294 recorded two months ago, our Solana price prediction for the rest of the year is bullish. $SOL is currently trading at $148.85 with a 5.83% weekly increase, though the monthly trend is bearish (-27.42%). Luckily for $SOL holders, key technical indicators point […]
Solana price (SOL) has recently showcased an impressive performance, setting new records as it regains its bullish momentum. After experiencing a significant decline since July 14, SOL has emerged as one of the top-performing cryptocurrencies, trailing only behind Pepecoin (PEPE) and Chainlink (LINK) in terms of gains in the past 24 hours. With sustained upward movement, SOL has surged by 8.9% in the past day, 39% in the past week, a remarkable 51% in the last two weeks, and 68% in just 30 days. Solana Price Potential Unveiled The recent surge in Solana price has caught the attention of....