2024

Solana

Strong

<ul> 
 <li>Solana suffers as crypto market plunges, dropping below $150.</li> 
 <li>Current trends indicate potential drop to $100; recovery uncertain amidst market turmoil.</li> 
 <li>Strong demand at $100, but reaching $500 by 2024 remains doubtful amidst ongoing volatility.</li> 
</ul> 
The cryptocurrency market has been hit hard by the recent crash, and even top-performing blue chip altcoins like <a href="https://thenewscrypto.com/?s=Solana" target="_blank" rel="noreferrer noopener">Solana</a> (SOL) have not been spared. 
The once-thriving SOL token has seen its market cap take a significant hit, resulting in a massive sell-off that has pushed its price below the crucial $150 mark. 
As the market continues to tumble, investors are left wondering whether this correction is the final drop that could threaten a breakdown to $100 or if a bullish reversal is on the horizon. The question on everyone’s mind is: Will Solana find the necessary bullish momentum to reach $500 by 2024? 
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 <img decoding="async" width="1024" height="509" src="https://thenewscrypto.com/wp-content/uploads/2024/04/image-62-1024x509.png" alt="" class="wp-image-96866" srcset="https://thenewscrypto.com/wp-content/uploads/2024/04/image-62-1024x509.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/04/image-62-300x149.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/04/image-62-768x382.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/04/image-62-1536x764.png 1536w, https://thenewscrypto.com/wp-content/uploads/2024/04/image-62.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<h2 class="wp-block-heading" id="h-can-solana-find-the-momentum">Can Solana find the momentum?</h2> 
Currently, Solana’s native token is trading at around $145, with an intraday fall of 2.25%, resulting in another bearish engulfing candle. The downfall aligns with the broader market decline and has led to a retest of the broken resistance trendline. 
With the chances of a post-retest reversal being minimal during this increased supply wave, the SOL price appears to be headed towards the $100 mark. 
Technical indicators paint a mixed picture for Solana. The merging of the MACD and signal lines under the negative territory suggests a potential positive crossover. However, the ongoing downfall in SOL price could result in an extended negative trend.&nbsp;&nbsp; 
Despite the current correction phase, the underlying demand for Solana remains strong at the psychological mark of $100. A broader market comeback could increase bullish momentum, resulting in a post-retest bounceback. 
By the end of this month, Solana’s market value might have reached its pinnacle at $200 due to the possibility that the rally would pick up steam. Nevertheless, given the current state of the cryptocurrency market, it is still unclear how to get to $500 in 2024.

Solana Price Plummets Amidst Market Crash: Can SOL Make a Comeback?

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