Solana News: Potential 12% Decline if $136 Level Not Held

In the volatile world of cryptocurrencies, Solana [SOL] is currently facing a bearish outlook. Here’s a closer look at the key developments shaping the future of SOL and its potential price movements.

Solana: Bearish Indicator Shows Sell Sign

Solana [SOL] may decline by 12% to $120 if it fails to hold the $136 level. A daily candle above $146 could shift the bearish outlook. SOL is currently trading near $137.5, a 4.76% drop in the past 24 hours, with trading volume down by 10%. SOL has formed a bearish falling wedge pattern on the four-hour timeframe, similar to Bitcoin [BTC].

Top Crypto Topics Trending Across Social Media Right Now

The cryptocurrency market may be struggling, but macro headwinds are not deterring investors from talking about digital assets on social media. According to a tweet by the market intelligence platform Santiment, topics driving crypto discussions today include liquidity, Solana, key opinion leaders (KOLs), holders, and the term “MCP.” Solana is dominating crypto discussions because it is frequently mentioned in discussions about the liquidity and market capitalization of several crypto projects. Traders are discussing the depth of liquidity in SOL, the native asset of the Solana network. Santiment said the discussions indicate a growing interest in projects associated with the Solana network.

Solaxy ICO Raises Over $28M, Expert Predicts Post-Listing Rally

A new Layer-2 project called Solaxy (SOLX) has raised over $28 million in its ICO. The SOLX token is expected to list on a DEX soon, and one industry expert believes it could explode in price after listing. With the ICO momentum continuing, early backers are scrambling to secure SOLX while the token is still priced at $0.001676. This price will rise in the next stage, and once the ICO ends, SOLX will be listed at a likely higher price point.

Solana Preparing For Rally To $180? SOL Sentiment Hits Historic Highs

Solana (SOL) is attempting to reclaim a key support level amid the recent market recovery. The cryptocurrency has seen a bullish recovery, surging 14% from the $121 support to above the $145 barrier. On-chain analytics platform Santiment highlighted that Solana’s social sentiment has surged to historic highs fueled by institutional interest, technological advantages, community support, and possibly other factors.