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Bullish
🟣 Solana Price Prediction: SOL's market cap drops $3B as Trump boosts Ethereum's rebound 🐋💸
📈 The price of Solana fell 4% in 48 hours to reach $225 on Friday, decoupling from the broader resurgence of the altcoin market.
The $3 billion drop in SOL's market cap coincided with the latest cryptocurrency acquisitions backed by Trump from WLFI, drawing investors' attention to the Ethereum ecosystem.
☝️ The average balance in buying addresses increased from 383 SOL to 1,096 SOL, indicating a 186% increase in demand from Solana whales over the past three days. The price of Solana fell 4% in 48 hours to reach $225 on Friday, decoupling from the broader resurgence of the altcoin market.
While the latest cryptocurrency acquisitions backed by Trump from WLFI attracted retail market attention towards the Ethereum ecosystem, on-chain data shows that Solana whales are increasingly buying on the dip.
😫 The 4.6% drop in SOL's price over the last 48 hours has caused it to decouple from the broader altcoin market rebound.
However, vital on-chain metrics show that Solana whales are capitalizing on falling prices to buy on the dip, a move that could trigger a bullish reversal in the coming days.
👀 If SOL successfully breaks above $231, the next target is at the upper band of the DC at $259.
This move could attract strategic traders looking for entry opportunities at current levels.
🤔 However, failure to maintain above $230 could invalidate this bullish outlook.
#Solana $SOL
📈 The price of Solana fell 4% in 48 hours to reach $225 on Friday, decoupling from the broader resurgence of the altcoin market.
The $3 billion drop in SOL's market cap coincided with the latest cryptocurrency acquisitions backed by Trump from WLFI, drawing investors' attention to the Ethereum ecosystem.
☝️ The average balance in buying addresses increased from 383 SOL to 1,096 SOL, indicating a 186% increase in demand from Solana whales over the past three days. The price of Solana fell 4% in 48 hours to reach $225 on Friday, decoupling from the broader resurgence of the altcoin market.
While the latest cryptocurrency acquisitions backed by Trump from WLFI attracted retail market attention towards the Ethereum ecosystem, on-chain data shows that Solana whales are increasingly buying on the dip.
😫 The 4.6% drop in SOL's price over the last 48 hours has caused it to decouple from the broader altcoin market rebound.
However, vital on-chain metrics show that Solana whales are capitalizing on falling prices to buy on the dip, a move that could trigger a bullish reversal in the coming days.
👀 If SOL successfully breaks above $231, the next target is at the upper band of the DC at $259.
This move could attract strategic traders looking for entry opportunities at current levels.
🤔 However, failure to maintain above $230 could invalidate this bullish outlook.
#Solana $SOL
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