Solana Price Uncertainty Intensifies! SOL Price Eyes A Retest At $200?

Story Highlights

• The Solana worth enters a consolidated part by registering a ~1% variation in seven days.
• The technical indicators are displaying blended worth sentiment, pointing to unsure worth motion within the close to time period.
• On the upside, a bullish reversal might push the worth in the direction of a brand new ATH past the $263.83 mark.

With the Bitcoin worth present process a big worth correction in a single day, the crypto market has misplaced ~$137 billion in 24 hours. After this, prime altcoins like Solana have failed to keep up their bullish sentiment.

Moreover, with hypothesis surrounding the Securities and Change Fee (SEC) rejecting not less than two out of 5 Solana ETF functions, will the Solana worth expertise a big worth correction within the coming weeks?

SOL Worth information consolidated worth motion!

With the rising bearish sentiment, THE Solana worth has fallen 4.27% in 24 hours with a buying and selling quantity of $8.226 billion. Notably, with impartial worth motion over the previous seven days, this altcoin has entered a consolidated worth development.

The Easy Shifting Common (SMA) repeatedly acts as resistance to the SOL worth chart within the every day timeframe. This highlights a weak bullish sentiment for the altcoin within the cryptocurrency market.

Nonetheless, the Shifting Common Convergence Divergence (MACD) exhibits a gradual decline within the crimson histogram, whereas the averages present a gradual decline. This means blended worth motion for the fifth largest crypto token.

Will SOL attain $300 by 2024?

Suppose the market bulls achieve power once more, this might result in Solana worth breaching the USD 250 mark and retesting its excessive of USD 263.83. Furthermore, if bullish sentiment strengthens, it might head in the direction of its highest worth goal of $300 this 12 months.

Conversely, if the bears overtake the bulls, it might result in the SOL coin worth testing its psychological barrier at $225 once more. Negatively, if the bears fail to regain momentum at that time, it might pull the worth of this altcoin in the direction of the decrease assist stage of $210.

Are you planning to take a position on this altcoin earlier than the AltSeason begins? Learn CoinPedia’s Solana Worth Prediction. Additionally subscribe to us to be the primary to get insights and happenings within the cryptocurrency market!

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