Convergence

bullish

Solana

Divergence

<a href="https://cryptoticker.io/en/token/SOL">Solana price</a> fluctuations have drawn significant attention, especially amidst recent SEC regulatory updates. With its price holding above $180, Solana shows robust market momentum and investor confidence, highlighting its resilience in the ever-<a href="https://cryptoticker.io/en/token">volatile cryptocurrency landscape</a>.
<h2 id="strong-solana-price-analysis-as-sec-drops-solana-from-securities-list-strong">Solana Price Analysis As SEC Drops Solana from Securities List</h2>
The recent <a href="https://www.bitget.com/spot/SOLUSDT?vipCode=94qs">Solana price</a> dip of 5% to around $182 occurred on a day when the crypto market lost nearly 3%. Despite this, SOL remains up by 5% for the week and 25% for the month, holding onto a 670% increase over the past year.
<figure class="image">
 <img style="aspect-ratio:1842/771;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_SOL_Overall_Performance_bfac8dfde6.png" alt="By TradingView - SOL Overall Performance" width="1842" height="771">
 <figcaption>
 <a href="https://www.tradingview.com/markets/cryptocurrencies/prices-all/?aff_id=127958">By TradingView - SOL Overall Performance</a>
 </figcaption>
</figure>
The <a href="https://cryptoticker.io/en/solana-news-sec-drop-solana-security">SEC's amendment to its complaint against Binance</a>, removing Solana and nine other tokens from its securities list, could be bullish for Solana. If the SEC permanently abandons the stance that SOL is a security, it could pave the way for a Solana-based ETF. This development might lead to a significant price increase, potentially driving SOL to surpass its record high of $259 by the end of the year.
<h3 id="strong-solana-technical-analysis-strong">Solana Technical Analysis</h3>
As of the latest update, <a href="https://www.tradingview.com/symbols/SOLUSD/?aff_id=127958">Solana price</a> is trading at $183, with a slight decrease of 2.74% during the U.S. trading session. Over the past 24 hours, SOL price has fluctuated between $179.30 and $187.30, with a 24-hour trading volume of $2.9 billion, indicating significant market activity.
<figure class="image">
 <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/SOLUSD_2024_07_31_055c26adf5.png" alt="By TradingView - SOLUSD_2024-07-31">
 <figcaption>
 <a href="https://www.tradingview.com/symbols/SOLUSD/?aff_id=127958">By TradingView - SOLUSD_2024-07-31</a>
 </figcaption>
</figure>
Technical indicators reveal a consolidation pattern on the 4-hour chart. The <a href="https://www.investopedia.com/terms/m/macd.asp#:~:text=Key%20Takeaways,from%20the%2012%2Dperiod%20EMA.">Moving Average Convergence Divergence (MACD)</a> is in the bearish zone, with the MACD line at 0.26 below the signal line of 1.68. However, a shrinking histogram suggests a decrease in bearish momentum, hinting at possible short-term stabilization or reversal. The <a href="https://www.investopedia.com/terms/r/rsi.asp">Relative Strength Index (RSI)</a> at 37 positions Solana in neutral territory but leans towards oversold conditions.
<h2 id="strong-solana-price-prediction-can-sol-price-regain-its-bullish-momentum-strong">Solana Price Prediction: Can SOL price regain its bullish momentum?</h2>
Over the past days, <a href="https://www.bitget.com/spot/SOLUSDT?vipCode=94qs">Solana price</a> has shown notable resilience, maintaining strong support at the $170 level and consistently hovering above $180. This upward trend, peaking at around $193 this week, represents a robust recovery from lower support levels. Despite a slight pullback typical in <a href="https://www.tradingview.com/markets/cryptocurrencies/prices-all/?aff_id=127958">crypto markets</a>, Solana's performance reflects strong market momentum and investor confidence.
<figure class="image">
 <img style="aspect-ratio:1824/770;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/SOLUSD_2024_07_31_5_D_70659b608f.png" alt="By TradingView - SOLUSD_2024-07-31 (5D)" width="1824" height="770">
 <figcaption>
 <a href="https://www.tradingview.com/symbols/SOLUSD/?aff_id=127958">By TradingView - SOLUSD_2024-07-31 (5D)</a>
 </figcaption>
</figure>
Solana's financial ecosystem shows substantial activity, with a <a href="https://www.investopedia.com/total-value-locked-7486821">total value locked (TVL)</a> of $5.4 billion. The market capitalization of Solana's stablecoins is robust at $3.2 billion. In terms of transaction fees, Solana generated $1.88 million in the last 24 hours, contributing to $940,009 in revenue during the same period. However <a href="https://cryptoticker.io/en/token/SOL">Solana</a> lost some of its market cap as its price dropped to levels of around $180, making it go back to its previous rank below <a href="https://cryptoticker.io/en/token/BNB">BNB</a>. However, with the slight difference in market cap, and <a href="https://cryptoticker.io/en/sol-price-prediction-aims-to-100-surge">optimist expectations for Solana price</a>, it could be temporary as it wouldn't be surprising for <a href="https://cryptoticker.io/en/solana-surge-analysis-how-did-solana-take-over-bnb">SOL price to regain momentum and push for a market cap increase surpassing BNB again</a> to regain its 4th largest cryptocurrency rank.
<figure class="image">
 <img style="aspect-ratio:1846/772;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_SOL_Price_Performance_e1ac180482.png" alt="By TradingView - SOL Price Performance" width="1846" height="772">
 <figcaption>
 <a href="https://www.tradingview.com/markets/cryptocurrencies/prices-all/?aff_id=127958">By TradingView - SOL Price Performance</a>
 </figcaption>
</figure>
While <a href="https://www.bitget.com/spot/SOLUSDT?vipCode=94qs">Solana price</a> support holds at $170, making it crucial for maintaining the current price structure. If bears gain control and selling pressure increases, the price might drop to $160. A further decline could see the price potentially lower to $150.
And if the bullish momentum highly expected takes over instead, <a href="https://www.tradingview.com/symbols/SOLUSD/?aff_id=127958">SOL price</a> could surpass its recent peak of $193 and head to its next target of $200, making way to the next one, being the Solana price of $250, a new record.
 Solana's price performance amidst market volatility and regulatory changes showcases its resilience and strong market momentum. The SEC's recent actions and Solana's robust financial ecosystem suggest a potentially bullish future, with the possibility of reaching new highs, especially if a Solana-based ETF materializes.

SOL Price Prediction: Did Solana Rank Drop Back to 5 Due To The SEC Recent Update?

목차

CryptoTicker ENG

2024년 7월 31일에 게재된 다른 기사

PePe Moonraker Presale: Will $PMRK Achieve 1000x Returns Like Other Memecoins?

Prediksi Para Ahli: Shiba Inu Berpotensi Naik ke US$0,000045

Trump’s Campaign Nets $21M at Bitcoin 2024 Conference

Hamster Kombat Team Delays HMSTR Token AirDrop Due to Technical Issues

Andrew Left Pleads Not Guilty to Fraud Amidst Crypto Market Manipulation Charges

📢✨ 1,000,000 Tokens 4th Epoch Bounty Program Announcement!

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!