One of the biggest stars in cryptocurrencies in 2021, Solana, had risen to $250, earning the nickname 'Ethereum killer.' Following the FTX incidents, SOL plummeted to single digits at the start of 2023, but made an incredible recovery. Currently, the price is declining in correlation with Bitcoin’s drop, as reflected in the charts.
Analysts' Comments on Solana
As analyst comments on cryptocurrencies gain importance, leading figures in the market have made significant statements about Solana. First, Ali Martinez’s comment indicated a potential new rise. Generally considering the TD Sequential indicator, the analyst suggested that a possible rise might begin.  CITE_W_A: > Since April, #Solana has been consolidating within a parallel channel. TD Sequential now presented a buy signal on the daily chart, indicating that $SOL could recover towards the middle or upper boundaries positioned at $154 and $187, respectively, from the lower boundary of the channel. The Moon, highlighting movement within a descending triangle channel, shared price targets in two different directions for Solana. The Moon’s comments were as follows: CITE_W_A: > #Solana is trading within this Descending Triangle. These are the possible targets: > > $112.5 and $155. 
Current Solana Price
The decline in Bitcoin’s price continues to show its strength clearly. This decline has also impacted altcoins. After Bitcoin fell below the $54,000 level, Solana’s price dropped by 2.45%, falling to $128.87. Following this decline, the market cap also dropped to $60 billion, appearing to be at risk of falling below this level. Additionally, the trading volume increased by 27.34%, surpassing $2.4 billion. This volume increase indicates that there is a group willing to buy despite the market decline. On the other hand, the fact that the price is falling despite purchases could be seen as some investors attempting to minimize their losses or realize their profits.
Conclusion
Thus, despite the current fluctuations in Solana’s price, analysts continue to closely monitor developments in the market and predict the future of this asset. In the near future, prices may either increase or decrease depending on Bitcoin’s movements and the overall market situation.
Thus, despite the current fluctuations in Solana’s price, analysts continue to closely monitor developments in the market and predict the future of this asset.
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