Solana

The post <a href="https://coinpedia.org/price-analysis/sol-price-at-end-of-correction-crossroads-warns-volatile-move-ahead/" rel="noopener noreferrer nofollow">SOL Price At End Of Correction Crossroads, Warns Volatile Move Ahead!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With a spike in meme coins last night, the market anticipates a bull run for altcoins this week. The SOL price action shows a critical pivot stage in support of this view that could lead to high momentum move shortly.&nbsp;&nbsp;
Awaiting a breakout move, the altcoin is on the verge of a price jump to $200 or a deeper pullback potentially under $100? Will Solana breakout rally cross $200 to hit the $500 mark in 2024? Find out more in our long-term <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" rel="noopener noreferrer nofollow">SOL price prediction</a>.&nbsp;
<h2 class="wp-block-heading" id="h-solana-price-performance">Solana Price Performance</h2>
With a market cap of $64.42 Billion, Solana, the fifth biggest cryptocurrency, is down 3.26% in the last 24 hours. The downfall in the SOL price highlights the increased supply pressure near the resistance trendline.&nbsp;
<figure class="wp-block-image size-large">
 <img width="1024" height="509" src="https://image.coinpedia.org/wp-content/uploads/2024/05/15115443/image-339-1024x509.png" alt="">
</figure>
<a href="https://www.tradingview.com/x/CW9XzBVM/" rel="noopener noreferrer nofollow">TradingView</a>
With the overhead resistance trendline, the SOL price action forms a triangle pattern with the long-coming support trendline. The reversal from the resistance trendline currently breaks below the $150 psychological mark.&nbsp;
Further, the altcoin trades at $143 with an intraday rise of 1.30%, reflecting a bearish exhaustion. This increases the bullish reversal chances that may lead to the resistance trendline breakout.&nbsp;
Technical Indicators:
MACD: The MACD and signal lines are on the verge of a bearish crossover. This is a warning of a decline in the SOL price, leading to a breakdown rally.&nbsp;
<h2 class="wp-block-heading" id="h-will-the-sol-price-reach-200">Will The SOL Price Reach $200?</h2>
With the market anticipating a rise in the altcoins sector, the SOL price at a crossroads grabs the attention of everyone. As the uptrend potential is massive for this crypto, the breakout rally could result in massive gains for the HODLers and the new investors.&nbsp;
A breakout rally of the resistance trendline could surge the Solana token price to $200 in a week. An uptrend continuation could result in a jump to $250 by the end of this month.&nbsp;
Conversely, a breakdown rally could hit the $100 support level.&nbsp;

SOL Price At End Of Correction Crossroads, Warns Volatile Move Ahead!

Table of Contents

CoinPedia News

Other articles published on May 15, 2024

Join our free newsletter for daily crypto updates!