Solana

Flash

Arthur

<p>The post <a href="https://coinpedia.org/uncategorized/solana-sol-at-risk-potential-40-price-drop-looms-amidst-major-sell-off-profit-taking-warning-signs-flash/">Solana Soars, but Technicals Hint at 40% Price Dive in 2024: Should You Hold?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Solana’s rally might be running out of fuel. After a stunning climb from $55 to near $91, the red-hot crypto is facing technical hurdles that could trigger a 40% nosedive by January. Is this just a temporary turbulence patch, or a warning sign of a bigger storm?</p> 
<h2 class="wp-block-heading" id="strong-technical-indicators-raise-concerns-strong"><strong>Technical Indicators Raise Concerns</strong></h2> 
<p>While <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">Solana</a> continues its upward trend, the <a href="https://coinpedia.org/traders/relative-strength-index-rsi/">Relative Strength Index (RSI)</a> on its three-day chart shows signs of weakening. As its price hits new highs, the RSI has dipped from $99 to about $91.30, indicating a potential bearish turn.</p> 
<p>Adding to the concern, the three-day trading volumes for SOL have decreased even as its price has risen. This suggests that the current bullish trend might be losing steam, hinting at a possible market shift.</p> 
<p><strong>Key Price Levels to Watch</strong></p> 
<p>The recent stable trading around $91 corresponds with the 0.236 Fibonacci retracement level from Q1 2022. If the current divergence patterns continue, Solana could face a notable correction, possibly dropping to around $62 by January 2024.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/top-performers-of-2023-solana-helium-avalanche-and-stacks-lead-the-crypto-charge/">Top Crypto Performers of 2023 REVEALED (It’s Not What You Think!)</a></p> 
<h2 class="wp-block-heading" id="h-key-investment-shift">Key Investment Shift </h2> 
<p>In an unexpected move, BitMEX founder Arthur Hayes has shifted his investment focus from Solana to Ethereum. Hayes cited a unique “message” he received during meditation as his reason for moving away from Solana and increasing his Ethereum holdings. He even referred to Ethereum’s co-founder, <a href="https://coinpedia.org/news/18-possibility-of-vitalik-buterin-facing-prison-sentence-says-charles-hoskinson-cardano-founder/">Vitalik Buterin</a>, as “Archangel Vitalik.”</p> 
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   <p lang="en" dir="ltr">Fam … I have a confession to make.<br><br>I received a msg from the Lord while meditating. He said dump that Sam coin POS, and profess your love for Archangel Vitalik. <br><br>So I dumped <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>, and bot more <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>.<a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> = $5,000</p>— Arthur Hayes (@CryptoHayes) <a href="https://twitter.com/CryptoHayes/status/1738008677360239091?ref_src=twsrc%5Etfw">December 22, 2023</a>
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<p>Following this spiritual insight, Hayes sold his Solana assets and made a bold prediction, foreseeing Ethereum’s price potentially reaching $5,000.</p> 
<p>The timing of Hayes’s strategic move adds a layer of intrigue to the ongoing narrative, aligning with Solana’s remarkable surge in the market. SOL has recently climbed toward the $100 milestone, <a href="https://coinpedia.org/price-analysis/solana-flips-xrp-and-records-a-20-month-high-sol-price-to-achieve-100-this-week/">surpassing XRP</a> and securing the 4th spot in the cryptocurrency rankings.</p> 
<p>Read More: <a href="https://coinpedia.org/price-analysis/solana-flips-xrp-and-records-a-20-month-high-sol-price-to-achieve-100-this-week/">Solana Flips XRP And Records A 20-Month High! SOL Price To Achieve $100 This Week?</a></p>

Solana Soars, but Technicals Hint at 40% Price Dive in 2024: Should You Hold?

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