Solana’s Market Performance

Over the past 12 months, we have seen a massive price increase for SOL Coin. After the FTX crash,

Solana has been fighting for survival and has now proven to everyone that it is still standing and will continue to be around. From the last peak to the 2023 trough, the price has increased by nearly 25 times, achieving a rare increase with its huge market cap.

However, despite the positive long-term outlook, the short-term situation is changing. The new memecoin based on Solana may have pushed up network activity and altcoin prices, but there seems to be a pause here.

SOL Coin Prediction

Solana’s Average Directional Index (ADX) has given a strong bearish signal for the popular altcoin.

DEX trading, a decline in the ADX, and in addition, we have a death cross. If the downtrend becomes a reality, SOL Coin may fall to $167 and then to $137. Below this level, a drop to the main support level of $107 is possible.

However, if BTC price remains strong and Solana is able to eliminate operational issues, the bearish outlook may reverse. An important detail here is the $181 support level, around which the price has been hovering at the time of writing. If it can stay above this level, the target resistance level may exceed $205.

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