Is Solana a 'buy' with SOL price at 10-month lows and down 85% from its peak?
SOL price still faces headwinds from its Bitcoin correlation, macro risks as well as Solana's downtimes. Solana's (SOL) price dropped on June 3, bringing its net paper losses down to 85% seven months after topping out above $260.SOL price fell by more than 6.5% intraday to $35.68, after failing to rebound with conviction from 10-month lows. Now sitting on a historically significant support level, the SOL/USD pair could see an upside retracement in June, eyeing the $40-$45 area next, up around 25% from today's price.SOL/USD daily price chart. Source: TradingView60% SOL price decline....
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When Solana’s price hit new lows near $54, the total value locked (TVL) for the token also declined to a historical low. According to data from Defi Llama, the token’s TVL has been on a steady decline since November 2021. In that month, it reached an all-time high of $15 billion but then lost momentum and went down to $4.34 billion. Solana’s TVL continued to plummet in the third week of May due to bearish trends within this market that have seen declining interest from investors. Related Reading | Ripple (XRP) Price Picks Up As SEC Legal Showdown Drags On With its price....
On-chain data shows Bitcoin miner revenues have now declined to six-month lows as the price of the crypto has continued to struggle recently. Bitcoin Miner Revenues Fall To 6-Month Lows As per the latest weekly report from Arcane Research, the BTC miner revenues have now dropped to lows not seen since six months ago. Over […]
Shiba inu fell to a four-month low on Thursday, as consumer prices in the United States rose by more than expected. U.S. inflation came in at 8.2% in September, which is higher than the 8.1% consensus expectation. Solana was in the red as well, as the token also hit a multi-month low. Shiba Inu (SHIB) Shiba inu (SHIB) dropped to a four-month low on Thursday, as markets reacted to the latest U.S. inflation report. Consumer prices climbed to 8.2% year-on-year in September, which is higher than expectations of 8.1%. As a result of this, SHIB/USD fell to an intraday low of $0.000009385, which....
The U.S. CPI for December was released and this month could see peak dollar inflation. How will the bitcoin price reflect that?
Solana's price can mimic Ethereum's impressive recovery after the 2018 bear market, analysts argue. Solana (SOL) still has room to fall in the near term, but SOL/USD can rally 5,000% if it follows in the footsteps of its top rival Ethereum. That Ethereum 2018 fractalSOL risks dropping to $15 on anticipations it would behave like Ethereum during the market crash in 2018.Notably, Ethereum's native token Ether (ETH) price fell to nearly $79 in December 2018 after undergoing a 95% correction earlier that year from its peak of $1,529. Afterward, it underwent a long recovery, rising nearly....