Solana

Bitcoin

Reversal

The post <a href="https://coinpedia.org/price-analysis/sol-price-breakdown-meets-demand-teases-a-reversal-to-150/">SOL Price Breakdown Meets Demand, Teases A Reversal To $150</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a short surge in altcoins, Solana shows a promising recovery and teases a bullish extension this week. As it bounces off from a crucial support zone, a reflection of solid demand, the SOL price could reclaim the $150 milestone in May. 
However, the increasing volatility in the broader market and a potential correction in Bitcoin could hamper the recovery phase. Will Solana resist the bearish market noise to reach the $500 mark in 2024? Find out more in our <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">SOL price prediction</a>.&nbsp; 
<h2 class="wp-block-heading" id="h-solana-price-performance">Solana Price Performance</h2> 
With a double top reversal from the $200 milestone, Solana experiences a huge supply surge in the last two months. The altcoin loses the $150 psychological mark and breaks a long-coming support trendline. However, with a market cap of $54.33 Billion, it ranks as the 5th biggest crypto in the world.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/05/02120329/image-56.png" alt="" class="wp-image-296849" srcset="https://image.coinpedia.org/wp-content/uploads/2024/05/02120329/image-56.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/05/02120329/image-56-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/05/02120329/image-56-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/05/02120329/image-56-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/05/02120329/image-56-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/05/02120329/image-56-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<a href="https://www.tradingview.com/x/7qAfyPrg/">TradingView</a> 
Despite the support trendline breakdown, the SOL price clings to the $112 demand zone and finds a cushion for a bounce back. With a bullish pivot, the altcoin retests the broken trendline and the 50% Fibonacci level at $135. 
With a post-retest intraday drop of 3.72%, the beairsh extension chances are increasing. However, as the altcoin trades close to $135 with a 6% jump last night, the buyers are attempting at a takeover.&nbsp; 
Technical Indicators: 
MACD Indicator: The MACD and signal lines are indecisive and merged in the negative territory.&nbsp;&nbsp; 
EMA: The breakdown in SOL price trades within the 50D and 200D EMA with a looming deathcross possibility.&nbsp; 
<h2 class="wp-block-heading" id="h-will-sol-price-reclaim-150">Will SOL Price Reclaim $150?</h2> 
With the broader market failing to find a bullish pivot, Solana struggles to siphon energy from it. However, rising against the tide, the SOL price teases a potential jump above the $135 mark.&nbsp; 
If the SOL price reverses to cross the 50% Fibonacci level, the altcoin can reinstate a positive recovery and hit $150 in May.&nbsp;&nbsp;

SOL Price Breakdown Meets Demand, Teases A Reversal To $150

Inhaltsverzeichnis

CoinPedia News

Weitere Artikel, die am 2. Mai 2024 veröffentlicht wurden

Ethereum: SEC Chair Allegedly Lied to Congress

DTX Exchange Becomes Top Crypto Pick In May 2024, Turning Heads of Render and BNB Investors Amid ...

Critical Analysis Today for 23 Altcoins: Comprehensive List of Potential Market Movements – Featu...

Terraform Labs Refuses to Pay $5.3 Billion Fine: No Evidence from SEC – Implications for LUNA Coi...

Chainalysis will help Tether monitor secondary market for illicit activity

Securitize Secures $47 Million in Funding Led by BlackRock to Expand Tokenization Services

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!