Amid ongoing market uncertainty, the SOL price fails to maintain its position above key support levels, leading to a significant price decline this month.
Current Solana Price Movement
Solana has dropped 8.89% over the last 24 hours with a trading volume of $3.42 billion, showing a change of +152.86%. Furthermore, this altcoin has lost 13.27% over the past week and 36.87% over 30 days. With a YTD return of -18.21%, the market cap of this altcoin stands at $77.056 billion. The Simple Moving Average (SMA) consistently acts as resistance for the Solana price chart, indicating increased selling over buying pressure in the cryptocurrency market. Additionally, the RSI indicator records a steady decline towards the oversold range on the daily timeframe.
Potential Solana Recovery
If a trend reversal occurs, the SOL crypto price could retest its immediate resistance level of $181.50. Maintaining the price above that level could push the price toward its upper target of $209.07 in Q1. Conversely, if the bears outrun the bulls, the SOL coin price may retest its key support level of $150. Furthermore, if bearish sentiment intensifies, the price of Solana may plunge toward its lower support level of $127.
Frequently Asked Questions
Why is Solana price crashing? Amid the cool-off in memecoin mania and rising uncertainty, the SOL token has experienced a nose-dip in its valuation.
Will the SOL price ever go back up? Considering the present market sentiments, the Solana price could continue losing value this week before attempting a bullish reversal.
How much is Solana right now? At the time of writing, the value of one SOL token was $156.82.
How much will 1 Solana be worth in 2025? The SOL price could surge to a maximum of $400 by the end of 2025.
Solana is experiencing significant price fluctuations amid current market uncertainty. Investors continue to monitor developments closely to determine future market entry opportunities.
