Solana

Crypto Kaleo, a prominent crypto expert, forecasts that <a href="https://optimisus.com/news/crypto-news/over-340-million-worth-of-solana-sol-tokens-set-to-be-unlocked-this-month/" rel="noopener noreferrer nofollow">Solana (SOL)</a> may experience a further decline to $120. This decline could perhaps serve as a foundation for a more robust upward movement, allowing for consolidation before trying to reach new record levels.The expert accurately forecasted a decline in the price of Solana on August 27, and within three days, it dropped to $130. Today, the analyst reported that the value of cryptocurrencies has decreased by approximately 5% in the past 24 hours.Solana reached its highest value ever (ATH) of $260 in November 2021. Earlier this year, the token reached $200, which led to discussion about a potential new ATH.On the weekly chart, SOL seems to be exhibiting a recognizable pattern, resembling its descent from $204 to $78 in March 2022. Although the price may not decrease significantly, it will probably decline to $120 or possibly as low as $110.Last month, <a href="https://optimisus.com/market/market-news/the-secs-concerns-about-solanas-security-status-have-delayed-potential-etf-approvals/" rel="noopener noreferrer nofollow">the SEC classified Solana (SOL) as a possible security</a>, affecting the launch of SOL ETFs. This has led to the Chicago Board Options Exchange (Cboe) withdrawing the 19b-4 forms from its website, causing a delay in the certification process. The SEC concerns have also led to the withdrawal of VanEck and 21Shares&#39; 19b-4 forms from Cboe Global Markets&#39; website.

Solana (SOL) loses 12% of its value in the last seven days

Optimisus

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