Ethereum

Solana

United

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-faces-significant-price-drop-in-24-hours/" data-wpel-link="internal">Solana Faces Significant Price Drop in 24 Hours</a><br></p>
<p style="text-align: justify"><strong>Solana’s (SOL)</strong> price experienced a significant drop in the last 24 hours, continuing its downward trend. Solana is currently trading below $170, showing a descending triangle formation indicative of ongoing selling pressure. Solana’s price is currently at $163, marking an 8% drop from the previous day.</p> 
<h2 id="solana-s-trading-volume">Solana’s Trading Volume</h2> 
<p style="text-align: justify">The popular altcoin Solana’s current market value is around $73.71 billion, ranking it as the fifth-largest cryptocurrency. Trading volume increased by 66% in the last 24 hours, reaching $5.917 billion. This could reflect increased trading activity. Solana recently saw a significant rise, surpassing $180 before pulling back. Over the past week, Solana’s value dropped by over 2%, indicating a strong wave of selling. However, on a monthly scale, Solana continues to rise by over 4%.</p> 
<p style="text-align: justify">The broader <a href="https://en.coin-turk.com/apples-wwdc-2023-hint-at-possible-collaboration-with-render-token/" data-wpel-link="internal">cryptocurrency market</a> is also facing a downward trend. <strong>Bitcoin</strong> is currently trading just below $67,000, while Ethereum is below $3,700. If the downward trend in SOL’s price strengthens, it could soon drop to the $160 support level. If this downward trend continues, a drop to $150 is possible, which could indicate a significant shift in market sentiment.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-355339 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/sol-3.jpg" alt="" width="907" height="462"></p> 
<h2 id="sol-price-prediction">SOL Price Prediction</h2> 
<p style="text-align: justify">If the upward momentum resumes, <strong>SOL</strong> could return to the $170 level. With increased upward pressure, the price could rise above $180 and reach $200 in the next bullish run. This potential move could highlight the volatility and dynamic nature of Solana’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market performance</a>.</p> 
<p style="text-align: justify">The potential approval of spot Ethereum exchange-traded funds (ETFs) in the United States has significantly boosted the cryptocurrency market, marking a significant step forward in cryptocurrency regulation. On the other hand, the 24-hour Solana price chart shows a notable decline. The relative strength index (RSI) is at 53.82, indicating a neutral position. The RSI suggests weakening momentum and increasing selling pressure.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solana-faces-significant-price-drop-in-24-hours/" data-wpel-link="internal">Solana Faces Significant Price Drop in 24 Hours</a></h5>

Solana Faces Significant Price Drop in 24 Hours

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