2024

Solana

<p>For more than a week, Solana, once buoyed by a wave of optimism, has seen its value plummet alarmingly. This popular crypto, once promised to great heights, is now struggling to regain its shine. While some hope for a rebound, others fear a return of the bears. The question on everyone’s lips: Can Solana break through the $160 resistance, or is it doomed to fall back to $126?</p> 
<h2 id="h-solana-un-declin-alarmant">Solana: An alarming decline</h2> 
<p>Solana (SOL), whose definition is given <a href="https://www.cointribune.com/quest-ce-que-solana-sol/" target="_blank" rel="noreferrer noopener">as follows</a>, has seen <strong>its price plummet by 20%</strong> in just eight days, reaching a worrying zone. This is not the first time that the SOL crypto has found itself in free fall: <strong>in July, it had already plunged by 30%</strong>.</p>
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     <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> has been down for 9 days straight, a record for <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw">@Solana</a>.<br><br>After 8 red days, it previously bounced back with +10.75% and +14.22%. <br><br>Can it break the resistance ahead? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f914.png" alt="🤔" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/UtDxs30uhe">pic.twitter.com/UtDxs30uhe</a></p>— Cointelegraph (@Cointelegraph) <a href="https://twitter.com/Cointelegraph/status/1830529633453740284?ref_src=twsrc%5Etfw">September 2, 2024</a>
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<p>Yet this time, traders seem more worried. The consolidation between $126 and $160, which had previously raised hopes for a rebound, might well turn into a trap for investors.</p> 
<ul> 
 <li>Continuous decline: 9 consecutive days of losses;</li> 
 <li>Rebound attempts: +10.75% and +14.22%, but without lasting breakthrough;</li> 
 <li>Critical resistance: $160, a seemingly insurmountable threshold.</li> 
</ul> 
<p>Technical indicators, such as the RSI (Relative Strength Index), show that <strong>Solana is dangerously approaching the oversold zone</strong>, which could signal an end to the bearish cycle. But this hypothetical lull does not convince everyone. Even if seller pressure eases, the road to recovery seems strewn with obstacles.</p> 
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<h2 id="h-les-defis-persistants-de-la-crypto-sol">The Persistent Challenges of SOL Crypto</h2> 
<p>Crypto enthusiasts who had bet on a rebound might have to wait a little longer. The cryptocurrency market is known for its volatility, and Solana is bearing the brunt.&nbsp;</p> 
<p><strong>The resistance at $160 has been tested repeatedly</strong>, but without success, note <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" target="_blank" rel="noreferrer noopener"><strong>the analysts</strong></a>. Breaking this level could pave the way for a new rise to $169 or even $182. However, without a significant turnaround in market conditions, such a scenario remains uncertain.</p>  
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<p>Solana might well <strong>drop back to $126</strong> before it can hope for any recovery. Investors remain divided: on one side, those who believe in a trend reversal; on the other, those who think Solana is about to suffer another downfall. With altcoins also under bearish pressure, Solana’s future remains uncertain.</p> 
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<p>While <a href="https://www.cointribune.com/en/crypto-solana-etfs-struggle-to-convince/" target="_blank" rel="noreferrer noopener">Solana ETFs struggle to convince</a>, the SOL crypto seems to be at a turning point. The question remains: will this crypto be able to overcome its current challenges and rebound, or is it doomed to an inexorable fall to new lows?</p>

Crypto: 9 Days Of Decline For Solana, Heading Towards A Rebound Or A New Plunge?

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