Solana

Bitcoin ETF

<p>Solana (SOL), once a standout performer among <a href="https://cryptoticker.io/en/5-cryptocurrency-experts-thoughts-after-the-bitcoin-crash-and-how-solana-has-escaped-it/" target="_blank" rel="noopener noreferrer nofollow">mega-cap altcoins</a>, has experienced a notable downturn, hitting a 30-day low of $79 during the past 24 hours. This decline comes amid a broader market downturn for altcoins, prompting crypto investors to reassess their portfolios. What to expect for <a href="https://cryptoticker.io/en/solana-price-prediction-would-it-break-new-high-price/" target="_blank" rel="noopener noreferrer nofollow">Solana (SOL) price</a>?</p>
<h2 id="h-solana-price-analysis-2-years-all-time-high"><span id="Solana_Price_Analysis_2_years_all-time_high">Solana Price Analysis: 2 years all-time high</span></h2>
<p>Solana had positioned itself as one of the top-performing mega-cap altcoins in the lead-up to the spot Bitcoin ETF verdict. However, since reaching a 2-year peak of $121 on December 26, its price has witnessed a downward trend, raising concerns among investors.</p> <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/SOL_7_D_graph_coinmarketcap_1_1_c3ece0aea7.png" alt="This image has an empty alt attribute; its file name is SOL_7D_graph_coinmarketcap-1-1.png">
<h2 id="h-why-is-solana-crashing"><span id="Why_is_Solana_Crashing">Why is Solana Crashing?</span></h2>
<p>While the <a href="https://crypto.news/solana-sol-price-loses-90-support-amid-altcoin-market-downturn-what-next/" target="_blank" rel="noopener noreferrer nofollow">Solana network</a> continues to show robust growth metrics, including increasing network usage and daily active users, its price has slumped to $79 marking about a 20% loss within the week most of which happened in the earliest hours today.&nbsp;</p> <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/SOL_7_D_graph_coinmarketcap_1_ef2dd7165f.png" alt="">
<p>The total market capitalization of all crypto assets excluding <a href="https://cryptoticker.io/en/why-is-bitcoin-price-crashing/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) and Ethereum (ETH), reveals an 8% downtrend between January 14 and January 22. With the global altcoin market shrinking by $32 billion in the past week, SOL, as the 8th largest cryptocurrency, has been disproportionately affected.</p>
<h2 id="h-investor-behavior-towards-solana-sol-decline"><span id="Investor_Behavior_towards_Solana_SOL_Decline">Investor Behavior towards Solana (SOL) Decline</span></h2>
<p>Solana investors in the derivatives market are closing out positions in anticipation of further price declines. Open interest data reports $226 million decrease since January 17, signaling growing disinterest among investors.</p>
<h2 id="h-solana-price-prediction-will-solana-crash"><span id="Solana_Price_Prediction_Will_Solana_CRASH">Solana Price Prediction: Will Solana CRASH?</span></h2>
<p>Drawing insights from derivatives and market data, a bearish outlook is predicted, with SOL potentially dropping towards $75 in the coming days. Bollinger bands technical indicators suggest a downward trend, emphasizing that investors are currently willing to pay less for SOL than 20 days ago.</p>
<h2 id="h-what-will-happen-to-solana-bulls-and-bears"><span id="What_will_Happen_to_Solana_Bulls_and_Bears">What will Happen to Solana? Bulls and Bears</span></h2>
<p>On the upside, a bullish reversal could occur if SOL surpasses $95, though the 20-day Simple Moving Average of $95 might pose a significant resistance. Investors holding unrealized losses over the last 20 days could exit at this point, impacting SOL’s upward momentum.</p>
<p>With Solana (SOL) decline today to $79 and re-adjusting fast to surpass $80, the $75 remains a closer level than the $95 statistically, but that will also mean that it will be down by almost 40%, will it be possible? The future hours will be crucial.</p>

Will Solana Price CRASH to $75?

İçindekiler

CryptoTicker ENG

23 Nis 2024 tarihli diğer yazılar

Missed Jupiter Airdrop? Top 9 Solana Airdrops That Could Make You Millionaire in 2024

BIG News: Bitcoin Programmers Join Forces to Create Rules for BRC-20 Tokens

Ripple Officially Opposes Sec’s $2 Billion Fine in Ongoing XRP Lawsuit

US crypto stocks rally on first trading day after Bitcoin halving

Vitalik Buterin’s $29 Million Loss in Six Days

Cardano Founder’s RFLXT Launches Game on Gala Games

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!