Solana Price Prediction This Week – SOL May Likely Lose Hold of $10

Log in to your BTCC account to track your learning progress and claim rewards. If you are not logged in, your learning progress may be lost.
Written by C, Fiona
|
Last updated: 11/22/2022 17:05

Solana price prediction this week: SOL will likely continue with this bearish trend, given the lack of buyer and market support. If the bearish trend continues, it will likely lose support at $11 and fall below $10. Losing hold of $10 could lead to a significant downtrend for Solana.

 

Solana (SOL) price is bearish today. In the past 24 hours, SOL has dropped about 6% and is trading at around $12.09 at the time of writing. The crypto is down 57% in the past month, mainly due to the collapse of FTX.

 

Solana Price Prediction This Week

Solana has traded between $11.68 and $13.14 in the last 24 hours, indicating mild volatility. While volatility is dropping, Solana bears have persisted, given that the token is still dropping following the collapse of FTX, whose founder and former CEO, Sam Bankman-Fried, was a major supporter of Solana.

 

Solana will likely continue with this bearish trend, given the lack of buyer and market support. In the last 24 hours, the global cryptocurrency market capitalization has dropped to around $838 billion.

 

If Solana continues this bearish trend, it will likely lose support at $11 and plunge below $10. Losing hold of $10 could result in a significant downtrend for Solana. At the current price, Solana is down 95% from its all-time highs.

 

The price of Solana seems to be attracting investors buying the dip. The price drop to $11 attracted buyers accumulating more tokens during the dip. The relative Strength Index (RSI) shows this rise in buying support, which could result in Solana gaining past $12.50 in the short term.

 

Solana founder announces major update of the blockchain

Despite the dropping prices, the team behind Solana seems to be committed to ensure that the ecosystem is growing. The co-founder of Solana, Anatoly Yakovenko, has urged validators to update to the latest node version, 1.13.5. According to Yakovenko, this upgrade will fix the outages on the Solana blockchain.

 

The Solana blockchain has suffered several outages this year, which has led to criticism of the network from the crypto community. If these outages are fixed, it could boost adoption of the Solana blockchain and spark a significant upward trend.

 

Solana (SOL) is trading on BTCC, check the link below to buy SOL now.

 

Trade SOL on BTCC

 

Read More:

Pi Coin Price Prediction 2025: Will Pi Coin Be Worth Anything?

Is Pi Network Legit Or Scam: Pi Coin Real Or Fake?

Gasoline Price Prediction 2022,2030: What Will It Be In Next Five Years?

Terra Luna Classic Price Prediction 2025-2030: Will Luna Classic Reach $1?

ADA Cardano Price Prediction 2025, 2030 – Is Cardano A Good Investment?

Disclaimer: The views and opinions expressed in this article are solely those of the author and are for informational purposes only. They do not constitute investment, legal, or any other professional advice. The content does not represent the official position of BTCC and should not be interpreted as an endorsement or recommendation of any specific product or service.
Please be aware that all investments involve risk, including the potential loss of part or all of your invested capital. Past performance is not indicative of future results. You should ensure that you fully understand the risks involved and consider seeking independent professional advice suited to your individual circumstances before making any decision.
For any inquiries or feedback regarding this article, please contact us at: [email protected]