Solana Price Loses 10% to $23.23 – Where to Buy SOL Dip

Solana is one of the innovative technologies in the crypto market. With DeFi developers looking for scalability, Solana jumped in to offer speed, reliability and efficiency. However, being scalable has not shielded Solana from experiencing volatility like the broader market. The crypto market is currently in a slump, and SOL has mimicked the trend.

SOL is trading at $23.23 at the time of writing after a 10% dip in the past 24 hours.

SOL Price Analysis

Looking at Solana’s chart in July, the coin has been on a slump despite making some gains. However, the deepest slump has happened in recent days, given that the entire market has been pulling back. If the slump continues, we could see Solana heading towards retesting lower support at $20. If bitcoin continues to slump further and retests $28K, we could witness a further dip in Solana prices, where the next stop for SOL will be $18.

Going below $20 is critical for Solana because it could gear up a bull run or trigger even sharper bears. The bull run will be caused by exhaustion in the downtrend and investors buying Solana during the dip. In case of an uptrend, SOL could consolidate at around $28.

Solana is one of the most promising projects in the crypto market. The current slump across the entire market could end once it reaches oversold levels, and if bulls pick up again, Solana will be among the leading tokens.

Solana’s all-time high sits at around $58, which was achieved in May when crypto market bulls were at their peak. If such a climate resumes, we could witness SOL heading towards $40 and above because its network continues to gain adoption.

Where to Buy SOL

To buy SOL during the current dip, create a cryptocurrency exchange account on the following platforms:

• eToro

If you want to buy Solana from a secure platform, create an exchange account on eToro. eToro is a recommended exchange if you are new to crypto trading because of a copy-trading feature. This feature allows new traders to learn trading strategies from expert traders.

Update 2024 – Going forward, the only cryptocurrencies eToro customers in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash and Ethereum.

• Coinbase

The other crypto exchange that supports Solana is Coinbase. Coinbase is one of the largest exchange platforms with high liquidity, making it easy for users to settle their trades. Furthermore, Coinbase also has user-friendly features that make it easy for traders to navigate.

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