Plunge

Convergence

Solana

Billion

Divergence

<p>The post <a href="https://coinpedia.org/price-analysis/solana-price-plunge-below-130-sol-price-to-break-down-to-100/" rel="noopener noreferrer nofollow">Solana Price Plunge Below $130! SOL price To Break Down To $100?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The crypto market has continued to display a strong bearish price action by recording a correction of approximately $90 Billion in valuation within the past 24 hours. Furthermore, the market leader, Bitcoin price, has recorded a 24-hour low of $57,932, indicating increased negative influence.</p>
<p>On the other hand, the Solana (SOL) price has turned out to be the top loser among the top 10 cryptocurrencies with a drop of $5.805 Billion (-8.53%) in its market cap. Has SOL price reached its low or will it continue to lose value this week?</p>
<h2 class="wp-block-heading" id="h-sol-coin-price-forms-an-inverted-cup-and-handle-pattern">SOL Coin Price Forms An Inverted Cup And Handle Pattern:</h2>
<p>The <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Solana price</a> has recorded a plunge of approximately 13% within the past 48 hours, highlighting a strong bearish reversal in the crypto space. Moreover, it has formed an inverted cup &amp; handle pattern in the 1D time frame and continues to trade within it, indicating uncertainty in future price action.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXd2-PUWxNoSywPjE0f7nDv79JrkblLk2lZ2SRG9KpFB9UcVQwjiaBkXWZrDzfnLOqOyANWWmD05vwyL-aBBOewiX5qOdNy6lBsbNDFeuaFbax2pGZSRhYTdoD2ipDOmk5WKfnfBjZgFWT-BPgzSnaFem4g?key=7pc4mjtgsnXM2Pu0UEs8bQ" alt="Solana Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: SOL/USDT
 </figcaption>
</figure>
<p>The Solana price has recorded a correction of 8.55% within the past 24 hours with a trading volume of $3.136 Billion, a change of 34.78%. Further, it has displayed a neutral price action within the past seven days and has plunged 18.69% in valuation over the past 30 days.</p>
<p>The technical indicator, SMA, has displayed a negative crossover in the 1D time frame, highlighting increased bearish price action for the <a href="https://markets.coinpedia.org/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL coin price</a> in the crypto market.</p>
<p>Moreover, the Moving Average Convergence Divergence (MACD) has recorded a constant decline in the green histogram, indicating an increase in the selling-over-buying pressure in the crypto space. Further, the averages show a potential bearish convergence, suggesting a negative outlook.</p>
<h2 class="wp-block-heading" id="h-will-sol-price-ever-go-up-again">Will SOL Price Ever Go Up Again?</h2>
<p>If the bears continue to dominate the crypto market, the Solana price will drop toward its crucial support level of $127. Furthermore, if the market fails to hold the SOL crypto price at that level, it will plunge toward its low of $100 during the upcoming weeks.</p>
<p>Positively, if a bullish trend reversal occurs, the Solana crypto will regain momentum and test its resistance level of $155. Maintaining the price at that level will set the stage for SOL price to attempt to test its upper resistance level of $181.50 in the coming time.</p>

Solana Price Plunge Below $130! SOL price To Break Down To $100?

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