Solana Price Prediction: SOL Plunges 5% In A Week As Investors Pivot To This Layer-2 Crypto Presale For 100X Potential
The Solana price dropped over 5% in the last week following a more than 1% correction in the last 24 hours to trade at $236.05 as of 10:43 p.m. EST as investors turn their attention elsewhere. Not only has the SOL price undergone a retracement throughout the past day of trading, the altcoin’s trading volumes have also plummeted 27% during the same period. Solana Price Resting On Support Daily chart for SOL/USD (Source: GeckoTerminal) The Solana price is resting on a support level at $222.99, GeckoTerminal data shows. Should the altcoin drop below this technical safety net within the next 8 hours, it could stand the risk of falling to the subsequent mark at $194.38. Conversely, SOL maintaining a position above $222.99 for the next 12 hours might invalidate the bearish thesis. In an alternative and more bullish scenario, the Solana price will likely try to break back above the closest resistance level at $261.14. Clearing this technical obstacle might then open up the ...