Solana (SOL) Price Prediction For January 14

Regardless of vital value actions over the previous 24 hours, Solana (SOL) has maintained its essential assist at $175. Nonetheless, this volatility has triggered some whales to lose confidence and dump their belongings, impacting the market at the moment.

Crypto Whale dumps $22 million in SOL

On January 13, 2024, Whale Alert, a blockchain-based transaction tracker, posted on X (previously Twitter) {that a} crypto whale had dumped 122,620 SOL tokens value $21.75 million on the Kraken cryptocurrency alternate. Nonetheless, the pockets tackle stays unknown.

This notable dump was noticed out there as SOL dropped under the essential USD 175 assist stage and approached the USD 168 stage. This initially modified market sentiment and indicated that SOL had left the essential assist stage, signaling bearish value motion. Nonetheless, as sentiment cooled, SOL recovered above the assist stage and seems to be recovering.

Solana (SOL) Worth Motion and Key Stage

In line with professional technical evaluation, the important thing stage for SOL within the coming days is $175. SOL stays bullish so long as it holds this assist stage. If the worth continues at this stage, there’s a good probability that the worth might enhance by 22% and attain $220 sooner or later.

Presently, the altcoin has returned to its consolidation zone, the place it has remained for the previous 4 buying and selling days. For intraday merchants, if SOL closes an hourly candle above $193, there’s a good probability that there might be a value enhance of over 7% to achieve $207.

Nonetheless, Solana’s bullish thesis will solely maintain if SOL holds itself above the $175 stage, in any other case it might fail.

Bullish sign from technical evaluation

On the plus facet, regardless of this value drop, SOL has held itself above the 200 Exponential Shifting Common (EMA) on the every day time-frame, indicating an upward development.

Furthermore, SOL’s Relative Energy Index (RSI) is close to oversold territory, indicating a attainable value restoration that merchants and buyers are anticipating.

Present value momentum

Presently buying and selling round $183.3, SOL has skilled a value drop of over 2.50% within the final 24 hours. Nonetheless, throughout the identical interval, buying and selling quantity elevated by 240%, indicating higher participation from merchants and buyers, presumably pushed by SOL’s present discounted value.