Solana Price Analysis: On Tuesday, the cryptocurrency market witnessed a major outflow following the lead of Bitcoin price correction to $60000. The sudden sell-off tumbled most of the top altcoins including Solana which recorded an 11% intraday loss. The falling price teasing a breakdown from multi-month support hints the sellers lead an extended correction trend in the near term.
Also Read: Solana Vs Ethereum : Will Solana Take Over Ethereum By End of 2024 ?
Potential Reversal on the Horizon as SOL Hits 5-Month Support Level
Solana Price Analysis: tradingview
In April, the layer 1 cryptocurrency Solana experienced a sharp downturn as market uncertainty intensified due to the Bitcoin Halving event The bearish downturn plummeted the SOL value from $204 to the current trading price of $122, registering a 40% loss.
An analysis of the daily chart shows the downward trend retesting an ascending trendline intact since late November 2023. The coin price rebounded several times from this su
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