The price of Solana (SOL), one of the leading cryptocurrencies, has fallen 6.4 percent in the last 24 hours, and is now at the level of US$ 221.69 million. Reporting from cryptonewsz, this decline also increased Solana's weekly loss to 8.3 percent.
However, despite this correction, Solana still maintains a large market capitalization of US$105.5 billion. This shows that Solana's position is still strong in the digital asset world, even though it is facing market pressure.
What Does the Data Say About Solana?
Currently, the market is showing quite diverse dynamics. Some important points to note are:
Neutral Technical Indicators: Technical analysis shows no clear direction, meaning the Solana market is still in a ‘wait and see’ condition.
Fear and Greed Index: Currently at 80, which is extreme greed. Typically, this indicates high market enthusiasm, but can also be a sign of caution about potential volatility.
In the last 30 days, Solana has recorded a positive performance of 14 days out of 30, with a price volatility of 13.11 percent. Although this trend is not completely stable, Solana still shows quite good resilience.
What is the Prediction for $BTC Solana in the Future?
Here are Solana price projections from various market analysis:
Next 5 Days: Predicted to rise to US$ 230.24.
1 Month Ahead: Potential to reach US$ 257.40, up around 12.65 percent.
Next 3 Months: Estimated to be at US$ 238.32.
Despite the uncertainty, these projections suggest a possible price recovery in the coming weeks. In fact, some analysts believe that Solana prices could continue to rise until early 2025.