2024

Solana

Bitcoin

Roller

<p>Solana (SOL) had a particularly difficult third week of June in the crypto market, with poor performance. However, at the beginning of July, SOL showed signs of recovery, almost reaching $120 on July 5th before falling again. These fluctuations make us ponder about the future of Solana as experts predict a potential rebound. Let’s dive into the subject to understand what might influence this promising cryptocurrency.</p>
<h2 id="h-sol-an-emotional-roller-coaster">SOL: An Emotional Roller Coaster</h2>
<p>SOL, Solana’s cryptocurrency, has experienced highs and lows that have left investors dizzy. After <strong>a severe drop in June</strong>, the beginning of July offered <a href="https://www.cointribune.com/en/bullish-recovery-of-solana-impact-of-etf-announcements-crypto-analysis-of-july-3-2024/" target="_blank" rel="noopener noreferrer nofollow">a welcome respite</a>.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p><a href="https://u.today/solana-sol-price-prediction-for-july-7" target="_blank" rel="noopener noreferrer nofollow">Optimistic forecasts</a> suggest <strong>a possible return to around $150 by the end of the month</strong>, thanks to a generalized recovery in the crypto market.</p>
<p>Analysts even compare <strong>the current situation of SOL to that of 2021</strong>, where a similar pattern preceded a strong rise.</p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a> seems to be mirroring the same price pattern we saw in 2021! Even the <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> RSI is at the same level it was back then before the big bullish breakout. <a href="https://t.co/5QQKjUlZcx" rel="noopener noreferrer nofollow">pic.twitter.com/5QQKjUlZcx</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1810365301579509817?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 8, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div>
 </div>
</figure>
<p>So, should we believe it? That is what many are hoping for, despite the persistent challenges.</p>
<h2 id="h-bitcoin-and-the-crypto-market-in-turmoil">Bitcoin and the Crypto Market in Turmoil</h2>
<p>The crypto market recently underwent <strong>turbulence</strong>, particularly due to <strong>Bitcoin reimbursements by Mt. Gox</strong> and significant BTC sales by the German government – <a href="https://www.cointribune.com/en/germany-the-government-isnt-selling-its-bitcoins-the-truth/" target="_blank" rel="noopener noreferrer nofollow">which have not yet occurred</a>.</p>
<p>However, the increasing inflow into Bitcoin ETFs has rejuvenated the market.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://accounts.binance.com/en/register?ref=35547494" target="_blank" rel="noopener noreferrer nofollow">Buy cryptos with Binance</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>This positive dynamic could reflect on SOL, especially with the <a href="https://www.cointribune.com/en/crypto-sec-on-the-verge-of-approving-ethereum-etfs/" target="_blank" rel="noopener noreferrer nofollow">imminent launch of an Ethereum ETF</a>, which could trigger a similar surge in activity as observed with Bitcoin. In short, the general climate is improving, and Solana could benefit from it.</p>
<h2 id="h-technical-prospects-of-solana-s-crypto">Technical Prospects of Solana’s Crypto</h2>
<p>Currently, Solana is trading around $143, with <strong>resistances at $142 and $146</strong>.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SOLUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SOLUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/SOLUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">SOLUSD chart</span></a> by TradingView
 </div>
</div> 
<p>The increase in trading volume indicates renewed interest from buyers. The RSI at 49.02 shows that SOL is neither overbought nor oversold, suggesting room for growth.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<p>If SOL exceeds the current resistance levels, <strong>the $150 threshold</strong> becomes a plausible target. Conversely, support levels at $131 and $126 offer stabilization points in case of a drop.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>Increasing institutional interest and wider cryptocurrency adoption, coupled with <a href="https://www.cointribune.com/en/crypto-after-ethereum-its-time-for-the-solana-etf/" target="_blank" rel="noopener noreferrer nofollow">speculation of a Solana spot ETF</a>, provide a solid foundation for a Solana rebound.</p>
<p>The future of SOL remains uncertain but <a href="https://www.cointribune.com/en/crypto-why-solana-and-xrp-could-explode-in-2025-with-etfs/" target="_blank" rel="noopener noreferrer nofollow">promising</a>, with fluctuations that can offer exciting opportunities for bold investors. By keeping an eye on technological developments and market trends, Solana could well regain its former glory.</p>

Crypto: Solan Heading Towards a Return to $150?

Зміст

Cointribune EN

Інші статті, опубліковані 10 лип. 2024 р.

Top Airdrops with Simple Requirements

Cardano Founder Celebrates RFLXT’s Chronoshot Launch on Epic Games

Bitcoin Mining Stock Iris Energy Is Moving Higher Wednesday: What's Going On?

Is MoonBag Meme Coin the Next Millionaire-Maker? Presale Success Leaves Tron and Toshi in the Dust

Peter Schiff Calls Upcoming Bitcoin Documentary 'Total Scam,' Calls King Crypto 'Fraud' While Hyp...

Bitcoin Minsers Are Capitulating, But There's Silver Lining

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!