Solana Price Dips 2.3% to $34.32 – How to Buy SOL

Solana is one of the cryptocurrencies that entered the market with a strong uptrend because of the potential of its network. The Solana protocol offers high speeds, and because of this, many developers of blockchain and DeFi projects are looking for ways to leverage this technology.

Solana is trading at $34.32 at the time of writing after a 2.3% fall in 24 hours.

Solana Price Analysis

Solana had an uptrend at the beginning of the week, but it shortly after took a downtrend. The coin price is currently trending shortly before the $35 resistance level, but it needs market support for it to reach that level and go beyond. During the week, SOL managed to reach $38, but it was rejected to go beyond $40.

If Solana bulls are strong, SOL might reach $40 and beyond, especially if short-term traders jump in now during the slight current dip. A bull in the broader cryptocurrency market might also trigger an uptrend.

On the flip side, the current dip for Solana might progress, and the prices might go even lower. In this case, Solana will drop to $30 and below, especially if bears are strong. At $30, SOL might consolidate if there is buying support. If there is no market support from the broader cryptocurrency market, strong bears will be detected, exposing investors to significant losses.

With the potential of the underlying Solana network, a dip in the price of SOL tokens will attract more investors to the market, especially those who buy into the crypto market because of the technology.

Institutional investors seem to be coming into Solana because of the potential of its technology. Recently, the Solana protocol, Solrise Finance, closed a $3.4 million funding. Some of the companies that participated in the funding round include CMS Holdings, Delphi Digital and Alameda Research.

Solrise Finance is a platform that allows users to develop an investment fund and manage assets in a non-custodial way. The funds raised from this funding round will be used to boost the platform’s accessibility.

Where to Buy Solana

If you want to buy Solana, you can do so from the following exchanges:

• eToro

One of the exchanges that support SOL is eToro. The exchange is highly reputable because of offering unique features such as copy trading and a demo account. Besides, it also supports a variety of cryptocurrencies and trading pairs.

• OKEx

The other exchange that supports SOL tokens is OKEx. OKEx also offers a wide range of cryptocurrencies and trading pairs. Moreover, OKEx also offers users access to the best crypto trading features.

Looking to buy or trade Crypto now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider