2024

Solana

Bitcoin

Roller

<p>Solana (SOL) had a particularly difficult third week of June in the crypto market, with poor performance. However, at the beginning of July, SOL showed signs of recovery, almost reaching $120 on July 5th before falling again. These fluctuations make us ponder about the future of Solana as experts predict a potential rebound. Let’s dive into the subject to understand what might influence this promising cryptocurrency.</p>
<h2 id="h-sol-an-emotional-roller-coaster">SOL: An Emotional Roller Coaster</h2>
<p>SOL, Solana’s cryptocurrency, has experienced highs and lows that have left investors dizzy. After <strong>a severe drop in June</strong>, the beginning of July offered <a href="https://www.cointribune.com/en/bullish-recovery-of-solana-impact-of-etf-announcements-crypto-analysis-of-july-3-2024/" target="_blank" rel="noopener noreferrer nofollow">a welcome respite</a>.</p>
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<p><a href="https://u.today/solana-sol-price-prediction-for-july-7" target="_blank" rel="noopener noreferrer nofollow">Optimistic forecasts</a> suggest <strong>a possible return to around $150 by the end of the month</strong>, thanks to a generalized recovery in the crypto market.</p>
<p>Analysts even compare <strong>the current situation of SOL to that of 2021</strong>, where a similar pattern preceded a strong rise.</p>
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     <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a> seems to be mirroring the same price pattern we saw in 2021! Even the <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> RSI is at the same level it was back then before the big bullish breakout. <a href="https://t.co/5QQKjUlZcx" rel="noopener noreferrer nofollow">pic.twitter.com/5QQKjUlZcx</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1810365301579509817?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 8, 2024</a>
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<p>So, should we believe it? That is what many are hoping for, despite the persistent challenges.</p>
<h2 id="h-bitcoin-and-the-crypto-market-in-turmoil">Bitcoin and the Crypto Market in Turmoil</h2>
<p>The crypto market recently underwent <strong>turbulence</strong>, particularly due to <strong>Bitcoin reimbursements by Mt. Gox</strong> and significant BTC sales by the German government – <a href="https://www.cointribune.com/en/germany-the-government-isnt-selling-its-bitcoins-the-truth/" target="_blank" rel="noopener noreferrer nofollow">which have not yet occurred</a>.</p>
<p>However, the increasing inflow into Bitcoin ETFs has rejuvenated the market.</p>
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<p>This positive dynamic could reflect on SOL, especially with the <a href="https://www.cointribune.com/en/crypto-sec-on-the-verge-of-approving-ethereum-etfs/" target="_blank" rel="noopener noreferrer nofollow">imminent launch of an Ethereum ETF</a>, which could trigger a similar surge in activity as observed with Bitcoin. In short, the general climate is improving, and Solana could benefit from it.</p>
<h2 id="h-technical-prospects-of-solana-s-crypto">Technical Prospects of Solana’s Crypto</h2>
<p>Currently, Solana is trading around $143, with <strong>resistances at $142 and $146</strong>.</p> 
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<p>The increase in trading volume indicates renewed interest from buyers. The RSI at 49.02 shows that SOL is neither overbought nor oversold, suggesting room for growth.</p>
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<p>If SOL exceeds the current resistance levels, <strong>the $150 threshold</strong> becomes a plausible target. Conversely, support levels at $131 and $126 offer stabilization points in case of a drop.</p>
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<p>Increasing institutional interest and wider cryptocurrency adoption, coupled with <a href="https://www.cointribune.com/en/crypto-after-ethereum-its-time-for-the-solana-etf/" target="_blank" rel="noopener noreferrer nofollow">speculation of a Solana spot ETF</a>, provide a solid foundation for a Solana rebound.</p>
<p>The future of SOL remains uncertain but <a href="https://www.cointribune.com/en/crypto-why-solana-and-xrp-could-explode-in-2025-with-etfs/" target="_blank" rel="noopener noreferrer nofollow">promising</a>, with fluctuations that can offer exciting opportunities for bold investors. By keeping an eye on technological developments and market trends, Solana could well regain its former glory.</p>

Crypto: Solan Heading Towards a Return to $150?

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