Year of the Dragon

Solana

Smog

Coin

The Solana price dropped by 5% in the last 24 hours to trade at <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">$141</a> as of 3.10 a.m. EST on trading volume that skyrocketed 44% to $1.46 billion.
Solana’s price plunge came in the early hours of Monday morning after the coin remained stabile throughout the weekend, sitting just under the resistance level at $146. However, it is likely that Solana did not suffer this drop on its own, as Bitcoin’s chart looks very similar.
The oldest cryptocurrency saw a price dip around the same time, sinking to a support at $60.75k before starting a recovery.
In other words, Bitcoin’s price drop likely influenced the altcoin market again, causing Solana, among other cryptos, to suffer a price drop of its own.
SOL is already showing signs of its own recovery as traders moved in to buy the dip, which is clear from the sharp increase in trading volume.
Solana is also down by 7% weekly, as its price dropped from a resistance at $155, after struggling to breach it at the start of the last week.
<h2 id="solana-price-prediction">Solana Price Prediction</h2>
Solana’s price drop happening early on a Monday morning does not come as an unexpected turn of events, since crypto prices typically see action after experiencing stability over the weekends.
With that said, traders do seek to know what to expect next, as increased volatility allows for new opportunities to make profits, assuming that they know what to expect and what move to make. Solana’s chart can reveal what is next for the coin thanks to certain technical indicators.
For example, SOL’s Bollinger bands have widened considerably when the price dipped, only to then see a sudden narrowing as traders stopped selling. Now that they are buying the dip, the bands are once again putting more distance between them, which is a bullish signal that suggests that the price will continue to climb.
<img decoding="async" class="aligncenter size-full wp-image-520276" src="https://insidebitcoins.com/wp-content/uploads/2024/05/Solana-Price-Prediction.jpeg" alt="Solana Price Prediction" width="1691" height="833" srcset="https://insidebitcoins.com/wp-content/uploads/2024/05/Solana-Price-Prediction.jpeg 1691w, https://insidebitcoins.com/wp-content/uploads/2024/05/Solana-Price-Prediction-300x148.jpeg 300w, https://insidebitcoins.com/wp-content/uploads/2024/05/Solana-Price-Prediction-1024x504.jpeg 1024w, https://insidebitcoins.com/wp-content/uploads/2024/05/Solana-Price-Prediction-768x378.jpeg 768w, https://insidebitcoins.com/wp-content/uploads/2024/05/Solana-Price-Prediction-130x63.jpeg 130w, https://insidebitcoins.com/wp-content/uploads/2024/05/Solana-Price-Prediction-104x50.jpeg 104w, https://insidebitcoins.com/wp-content/uploads/2024/05/Solana-Price-Prediction-83x40.jpeg 83w, https://insidebitcoins.com/wp-content/uploads/2024/05/Solana-Price-Prediction-1536x757.jpeg 1536w" sizes="(max-width: 1691px) 100vw, 1691px">
However, the coin’s Relative Strength Index (RSI) has climbed from the oversold zone toward the overbought one. This sharp increase might hint to some traders that it is time to start selling, or at least to stop buying and keep a close eye on the market to see what will happen next.
As SOL rapidly recovers, however, the buying pressure might push it higher up, allowing it to breach the former resistance at $146, which held the coin over the weekend.
But, if traders decide to stop buying once SOL recovers from its 5% dip from earlier today, then the same resistance will likely halt its progression.
It is also clear that SOL is still following Bitcoin’s lead, so it might be worthwhile to keep an eye on Bitcoin’s performance, even for those who hold Solana but not BTC.
<h2 id="promising-alternative-to-solana">Promising Alternative to Solana</h2>
Despite the fact that Solana is recovering from its drop earlier today, there are projects with far greater potential for bringing exponential gains to investors, one of which might be <a href="https://insidebitcoins.com/visit/smog" rel="noopener noreferrer nofollow">Smog (SMOG)</a>.
This dragon-themed meme coin has attracted a lot of attention this year for several reasons. The first one is that this is the Year of the Dragon in the Chinese zodiac, so those who view it as a symbol of luck have already invested a lot into the project, and will likely continue to do so throughout the year.
<iframe title="►The Biggest Solana Airdrop ever? Smog Token with 100x Potential!" width="640" height="360" src="https://www.youtube.com/embed/7anACxcP8NY?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
Secondly, Smog has prepared what it promises to be ”the greatest Solana airdrop in history,” splitting it into several seasons of community events and quests.
The project is currently in the middle of Season 2, when traders are instructed to collect XP by trading Smog, or simply by buying and staking the token.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24SMOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SMOG</a> 🐉 | The greatest <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a> <a href="https://twitter.com/hashtag/Airdrop?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Airdrop</a> of all time! 🔥
 Buy, hold, and complete quests on <a href="https://twitter.com/hashtag/Zealy?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Zealy</a> to qualify in the airdrop and climb the leaderboard! 🥇
 🌐 20K+ Participants on Zealy 👥 96.71K+ Holders 💰 $145.04M+ MC ✅ 1.9M Quests Completed
 🪂 Airdrop link in bio!🔗 <a href="https://t.co/ztTNkdkv6V" rel="noopener noreferrer nofollow">pic.twitter.com/ztTNkdkv6V</a>
 — Smog_Token (@Smog__Token) <a href="https://twitter.com/Smog__Token/status/1767871702917087401?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 13, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
With a 42% staking yield, it is easy to understand why many prefer this option, especially given the additional chance to win free money via airdrops.
To further encourage the purchase of SMOG, the project offers a 10% discount to those who buy it from its <a href="https://insidebitcoins.com/visit/smog" rel="noopener noreferrer nofollow">website</a>. You can buy SMOG in exchange for ETH or USDT or simply purchase it with a credit or debit card.
<a href="https://insidebitcoins.com/visit/smog" rel="noopener noreferrer nofollow">Visit SMOG official website now.</a>
<h3 id="related-articles">Related Articles:</h3>
<ul>
 <li><a href="https://insidebitcoins.com/buy-cryptocurrency/how-to-buy-smog" rel="noopener noreferrer nofollow">How To Buy Smog Token – A Complete Guide</a></li>
 <li><a href="https://www.linkedin.com/pulse/best-penny-crypto-investments-top-picks-explosive-growth-calsona-j8nhe/" rel="noopener noreferrer nofollow">Best Penny Crypto Investments: Top Picks for Explosive Growth in 2024!</a></li>
 <li><a href="https://www.linkedin.com/pulse/best-altcoins-invest-unveiling-top-picks-maximum-returns-calsona-9ceye/" rel="noopener noreferrer nofollow">Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!</a></li>
</ul>

Solana Price Prediction: SOL Plunges Almost 5% As Traders Turn To This Solana Airdrop Meme Coin With A 42% Staking Yield

Table of Contents

Inside Bitcoins

Other articles published on May 13, 2024

Tether Expands Commitment to Eastern European Markets with New Investment in CityPay.io

Pepe Price Prediction: PEPE Surges 44% In A Month, But Experts Say This Multi-Chain Dogecoin Deri...

Uniswap founder urges Democrats to rethink crypto regulation stance

Solana’s SEALANA Meme Coin ICO Races Past $500,000

Holders Might Turn Profitable As Ethereum’s MVRV Records Weekly Decline! What’s Next For ETH Price?

Don’t Miss 4 Micro-Cap Crypto Assets Poised for Explosive Growth

Join our free newsletter for daily crypto updates!