The post Solana Price Crashes 6.5%! Can Bulls Save SOL from a Major Breakdown? appeared first on Coinpedia Fintech News
The cryptocurrency market has recorded a bearish pullback this weekend. This resulted in top tokens breaking down their important support trend levels. Following this, the SOL price has recorded a strong downtrend and is on the verge of retesting its crucial support.
By evaluating the present market statistics, is this a good time to invest in Solana tokens? In this article, we at CoinPedia have uncovered the possible short-term Solana Price Analysis just for you!
The price of Solana has dropped 5.71% over the past 24 hours with a trading volume of $2.791 billion, a change of +70.96%. Furthermore, it has lost 9.96% in seven days and 22.35% in the last 30 days. With a market cap of $89.55 billion, it has a market dominance of 2.8008%.
The Moving Average Convergence Divergence (MACD) records a constant red histogram in the daily time frame. Moreover, the averages record a similar price trend, suggesting an increase in the selling-over-buying pressure for the altcoin in the market.
Moreover, the EMA 50-day witnesses a bearish curve with its 200-day average recording a negative crossover in the Solana price chart. This highlights that the SOL token may continue losing momentum.
Maintaining the price above its crucial support level of $181 could result in the Solana price retesting its immediate resistance level of $200. Furthermore, if the bullish sentiment intensifies, this could push the price toward its upper resistance level of $210 this month.
On the contrary, if the bears outrun the bulls, the SOL price could retest its support of $181. Moreover, if the bearish sentiment intensifies, this could result in the 06th largest crypto token plunging toward its lower support level of $155 in the coming time.
Are you one of many who are curious to explore the long-term prospects of SOL tokens? Read CoinPedia’s latest Solana Price Prediction today to uncover the possible riddles!
.article_register_shortcode {
padding: 18px 24px;
border-radius: 8px;
display: flex;
align-items: center;
margin: 6px 0 22px;
border: 1px solid #0052CC4D;
background: linear-gradient(90deg, rgba(255, 255, 255, 0.1) 0%, rgba(0, 82, 204, 0.1) 100%);
}
.article_register_shortcode .media-body h5 {
color: #000000;
font-weight: 600;
font-size: 20px;
line-height: 22px;
}
.article_register_shortcode .media-body h5 span {
color: #0052CC;
}
.article_register_shortcode .media-body p {
font-weight: 400;
font-size: 14px;
line-height: 22px;
color: #171717B2;
margin-top: 4px;
}
.article_register_shortcode .media-body{
padding-right: 14px;
}
.article_register_shortcode .media-button a {
float: right;
}
.article_register_shortcode .primary-button img{
vertical-align: middle;
}
@media (min-width: 581px) and (max-width: 991px) {
.article_register_shortcode .media-body p {
margin-bottom: 0;
}
}
@media (max-width: 580px) {
.article_register_shortcode {
display: block;
padding: 20px;
}
.article_register_shortcode img {
max-width: 50px;
}
.article_register_shortcode .media-body h5 {
font-size: 16px;
}
.article_register_shortcode .media-body {
margin-left: 0px;
}
.article_register_shortcode .media-body p {
font-size: 13px;
line-height: 20px;
margin-top: 6px;
margin-bottom: 14px;
}
.article_register_shortcode .media-button a {
float: unset;
}
.article_register_shortcode .secondary-button {
margin-bottom: 0;
}
}
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.