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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-solana-price-drop-below-100/" data-wpel-link="internal">Analyst Predicts Solana Price Drop Below $100</a> 
<a href="https://en.coin-turk.com/surge-in-solana-blockchain-ecosystem-attracts-massive-interest/" data-wpel-link="internal">Solana</a> (SOL) recently surpassed the $155 level within the last 24 hours, creating significant excitement, but this situation did not last long. According to Alan Santana, one of the market’s notable experts, there is a possibility of a decline in Solana, which could potentially fall below the critical $100 level. 
<h2 style="text-align: justify" id="solana-coin-analysis">Solana Coin Analysis</h2> 
According to a post published by Santana on July 3, the ‘ABC’ formation, known to indicate corrections on the Solana side, is observed. Briefly speaking about the ‘ABC’ correction, it is known as a concept that reveals the price moving within a certain range and usually forming a zigzag. 
The A section, indicating the initial process, shows a rise followed by a decline on the chart. The B section, the second stage, shows a weaker recovery far from the previous peak. Following these, the ‘C stage’ reveals a lower low, which in some periods reflects less deep declines. 
Sharing a chart that reveals this view, Santana stated that based on the chart, there is a possibility of the price falling below $100. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-367659" src="https://coin-turk.com/wp-content/uploads/2024/07/solana-coin-turk-com-1.png" alt="" width="763" height="411"> 
The price prediction made by the analyst seems to be in parallel with the market’s trend for now. Predictions indicate that Solana could trade between $80 and $100. 
Santana commented that the price movement specific to SOL in the market could reach between 40% and 50% and added: 
<blockquote> 
 The top of the B wave for the last sub-ABC wave is inside… Solana is now heading towards $80. This is the same price Solana traded around in January 2024. To be fair, let’s make this a range: Solana is now heading towards the $80 – $100 price range. 
</blockquote> 
<h2 style="text-align: justify" id="what-is-solana-s-current-price">What is Solana’s Current Price?</h2> 
Bitcoin started the first day of the week with a positive outlook, but this did not last long. The price experienced a noticeable drop from the level above $63,000 and is currently at $6,200 at the time of writing. 
The price drop in BTC also triggered a decline on the SOL side. After a 4.25% drop, the SOL price is currently trading at $141.70 at the time of writing. It is also worth noting that Solana rose from below $10 in 2023 to over $200 as of March 2024. 
This positions it perhaps at the top of the list of the best-performing high-volume cryptocurrencies in the market. Additionally, SOL’s market cap dropped to $65 billion after the decline. 
Despite the drop, the 24-hour trading volume rose to $2.7 billion after a 55% increase, which can be interpreted as <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> quickly selling to minimize their losses. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-solana-price-drop-below-100/" data-wpel-link="internal">Analyst Predicts Solana Price Drop Below $100</a></h5>

Analyst Predicts Solana Price Drop Below $100

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