Key Takeaways
- Solana’s price trades below $140 following a recent market crash to the month’s support zone.
- Crypto experts and traders hint at a possible market rebound for the price of SOL as BTC looks to trade higher.
- Bitcoin’s death cross could affect the price of SOL to the upside or downside as traders remain cautious.
Solana’s price slipped once more below the key support zone of $180, towards the monthly demand area of $130, following the cryptocurrency market crash and Bitcoin’s price crashing from its all-time high of $126k towards a yearly demand zone of $91k.
Following such a market crash leading to a shift in sentiment and market uncertainties, the price of Solana failed to protect its key region of $160 that has protected its price from bearish dominance for weeks, as the price flipped this zone into resistance; speculation mounts of a potential crash lower.
Where could the price be headed in the coming days to weeks as the market looks for a potential rebound to the upside if the price of BTC trades towards a region of $104k?
Solana Market Sentiment Hints at $160
https://twitter.com/TedPillows/status/1990855022360576017?s=20
The price of the crypto asset continues to struggle on a higher timeframe, trading around $140 and struggling to build a clear bullish structure to the upside. Such a structure could give traders and investors a measure of confidence to buy into the crypto asset.
However, TedPillows, a crypto expert, has taken to his X account to hint at the price action of Solana, stating the price of the crypto asset has demonstrated one of the worst price actions among higher caps, and speculated that the price could see a bounce towards $170 or $200 before the year ends.
As the crypto market looks to rebound to the upside, eyes will be fixed on the price action of Bitcoin and altcoins to see how price action develops.
SOL Price Analysis
Source – Solana 1D Price Chart from TradingView
The price of Solana (SOL) has struggled to build a decent bullish price structure, as bears continue to dominate the downside. At the time of writing, the price trades around $140.
If the price of the crypto asset holds this current price zone and forms bullish price action to the upside, we could see SOL attempt a rally toward $160 to $200 in the coming days as BTC trades higher.
FAQs
How much will be 1 Solana in 2030?
The price of the crypto asset could trade above $700 in 2030.
Can Solana reach 500 dollars?
The price could trade into $500 if it breaks above $300 with strong volume following the recent fundamental boost.
Is BTC expected to rise or fall?
The price of Bitcoin is attempting to rebound from its key support zone of $91k as it aims for a short-term price gain towards $104k.
Related Read
BTC Death-Cross Emerges – Next Target $80K or $104k?