Convergence

Solana

Bitcoin

Divergence

<p>The post <a href="https://coinpedia.org/price-analysis/solana-price-lost-9-today-will-sol-price-reclaim-200-this-week/">Solana Price Lost 9% Today! Will SOL Price Reclaim $200 This Week?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The crypto industry has displayed a sharp fall, with the price of Bitcoin plunging below the $67,000 mark during the early trading hours today. Following this, top altcoins have followed in the footsteps of the market leader and displayed a similar trend in their respective portfolios.</p> 
<p>On the other hand, the Solana token has displayed a significant bearish curve in its chart within the past 24 hours, indicating an ongoing correction in the cryptocurrency market.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-solana-price-breaking-down-its-major-support">Solana Price Breaking Down Its Major Support!</h2> 
<p>After displaying a neutral trend for a while, the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">SOL price</a> regained momentum and broke out of the resistance level, where the price traded sideways for the next five days. As the market volatility increased, the Solana price recorded a massive jump of over 75% within twelve days.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/xjjznO67LgINTAWKQUSxsROvdpq4Cha6hj08vpQF5BZGX1EFq4PRjRWv2i6vkdEDZ0n0DlJk9FYGuPftueI-uxpQpW88zuC3rlWHIXYXl4l8goj7z8TlWeWCkz_EtKSvsTn97sashhSLgUUtBVvPVSQ" alt="Solana Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: SOL/USDT
 </figcaption>
</figure> 
<p>Following this, the market lost momentum, and the Solana token recorded a correction of approximately 19%. Since then, the SOL coin price has been trading in a closed range between $179.30 and $200 and is repeatedly failing to break out of its resistance level.</p> 
<p>Furthermore, the <a href="https://markets.coinpedia.org/solana/">Solana price</a> has recorded a correction of approximately 9% in valuation within the past day, resulting in the SOL coin trading close to its support level. Moreover, this altcoin has lost approximately 5% over the past week, indicating a weak bullpower in the crypto space.</p> 
<h2 class="wp-block-heading" id="h-sol-s-market-sentiments">SOL’s Market Sentiments:</h2> 
<p>The Moving Average Convergence Divergence (MACD) displays a rising red histogram and a constant decline in the averages, highlighting an increased selling-over-buying pressure in the crypto industry.</p> 
<p>On the other hand, the Cross EMA 50/200-day shows a neutral price movement, indicating uncertainty in the price action for the altcoin this week.</p> 
<h2 class="wp-block-heading" id="h-will-solana-price-go-down">Will Solana Price Go Down?</h2> 
<p>If the market holds the price above the important support level of $180, the bulls will regain momentum and prepare to retest its resistance level of $200. Furthermore, if the bulls maintain the price at that level, the Solana token will attempt to test its upper resistance level of $220 this month.</p> 
<p>Conversely, if the bulls fail to regain momentum, the SOL price will test its support level of $180. Moreover, if the bears continue to hold power over the bulls, the price will continue bleeding and test its lower support level of 156.75 during the upcoming weeks.</p>

Solana Price Lost 9% Today! Will SOL Price Reclaim $200 This Week?

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