Solana

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The growth has not lasted long, as most of the coins are again in the red zone, according to <a href="https://u.today/ada-and-bnb-price-prediction-for-october-7" rel="noopener noreferrer nofollow">CoinMarketCap</a>. <img data-entity-type="file" data-entity-uuid="48951c18-622e-4fea-b685-6561e305e3ad" src="https://u.today/sites/default/files/inline-images/top10_1403.png">Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a>
<h2 id="sol-usd">SOL/USD</h2>
The rate of Solana (SOL) has fallen by 5.12% over the last 24 hours. <img data-entity-type="file" data-entity-uuid="5f2bf779-b304-4304-88e6-b341583fba1a" src="https://u.today/sites/default/files/inline-images/sol1_55.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SOLUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the price of SOL is breaking the local support level of $142.73. If it happens and the daily bar closes below it, the decline is likely to continue to the $141 range shortly. <img data-entity-type="file" data-entity-uuid="21b8dd26-e97f-4245-a814-cee670c11abc" src="https://u.today/sites/default/files/inline-images/sol2_51.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SOLUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, the situation is also rather more bearish than bullish. If buyers lose the interim level of $142, the accumulated energy might be enough for a test of the $140 zone.&nbsp;
Such a scenario is relevant until the end of the week. <img data-entity-type="file" data-entity-uuid="13c7350f-c580-442a-9b7e-8cda7b5d6fe7" src="https://u.today/sites/default/files/inline-images/sol3_49.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SOLUSDT" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, there are no reversal signals yet. If the weekly candle closes around current prices, traders may witness an ongoing drop to the $130-$135 range.
SOL is trading at $143.48 at press time.

Solana (SOL) Price Prediction for October 8

Table of Contents

U_Today

Other articles published on Oct 8, 2024

Visa Introduces Tokenized Asset Platform for Fiat-Backed Tokens

BTC ETFs See Huge Weekly Outflows, XRP Struggles to Get Back on Track, CYBRO Makes Another Huge P...

Bitcoin Spot ETF Inflows Reaches $235M on October 7

CRO Coin Price Prediction: Will Cronos Rise?

Weekly Article Recap: 9/23-9/27

BTC Price Analysis: Can Bears Push Bitcoin Below $60,000 Soon?

Join our free newsletter for daily crypto updates!