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coinpedia 2025-01-08 08:09:14

Solana Price Hits Shallow Waters, To Retest $181 Before the $300 Mark?

Solana Price Hits Shallow Waters, To Retest $181 Before the $300 Mark?

The post Solana Price Hits Shallow Waters, To Retest $181 Before the $300 Mark? appeared first on Coinpedia Fintech News The cryptocurrency market has experienced a strong bearish pullback in the past 24 hours. This has resulted in top tokens breaking down their important support levels. Moreover, the SOL price has recorded a similar price action by dropping below its $200 watch level. Will the self-claimed “Ethereum-Killer” regain momentum and surpass the Binance (BNB) token to become the 05th most valued crypto token by this weekend? In this article, we present the possible short-term possibilities of the Solana (SOL) token. SOL Price Loses ~10%, Stands Below $200! The Solana price has plunged below its important price level of $200 with an intraday drop of 9.62%. Notably, with a trading volume of $5.243 billion, this altcoin has experienced a significant setback this week, indicating an increase in the bearish influence. TradingView: SOL/USDT With a Year-to-Date (YTD) return of +3.48% and a market capitalization of $94.719 billion, the Solana crypto is currently the 06th largest cryptocurrency by valuation. Solana (SOL) Technical Sentiments The Relative Strength Index (RSI) records a sharp decline below the neutral point of the SOL price chart in the daily time frame. Further, with its average trendline recording a bearish convergence, this altcoin may continue losing value this week. The EMA 50-day shows a negative curve in the Solana price chart, indicating a bearish price sentiment. However, the 200-day EMA is strong support, highlighting room for a potential bullish reversal in the upcoming time. Is Solana A Hold Or Sell? If a bullish reversal occurs, the SOL coin price could reclaim the $200 mark and head toward its important resistance level of $209. Suppose, the bullish sentiment sustains at that point, this could push the price of this altcoin toward its upper high of $225. Conversely, if the bears outrun the bulls, the Solana token could drop toward its support level of $190. Moreover, if the bearish sentiment intensifies, this could pull the price toward its crucial support level of $181. Curious to find out if the SOL crypto coin will ever reach $1000? Read CoinPedia’s Solana Price Prediction to uncover the possible mysteries until 2030! FAQs How much is Solana worth today? With a 24-hour trading volume of $5.099 billion, the SOL crypto token is presently exchanging hands at $196.04. How much will 1 Solana be worth in 2025? With a potential Solana ETF filing, its native token could conclude the year with a high of $400. What was Solana’s highest price in history? The all-time high (ATH) of SOL coin is $263.83 and was recorded on 23rd November 2024.

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