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Solana Price Prediction: SOL Plunges 8% As Investors Flock To This Degen Crypto That’s Rocketed Past $5 Million – Last Chance To Buy!

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Solana price
Solana price

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The Solana price plunged 8% in the past 24 hours to trade for $136.87 as of 01:15 a.m. EST on trading volume that soared 151%.

It is a sign of market sentiment shifting to a bearish stance on Solana amid a flash crypto crash.

Jelle, a trader and analyst, observes that it is beginning to look like capitulation for many altcoins.

Solana Price Prediction

The Solana price trades with a bearish bias, adapting to the broader market trend. It has recorded a new lower low at $131.00, marked by the Tuesday intra-day low. The dump has seen the Solana price break below the trendline (centerline) of the Fibonacci retracement indicator, worsening the outlook.

The Relative Strength Index (RSI) shows that SOL bulls continue to capitulate as they record lower highs. Likewise, the Moving Average Convergence Divergence (MACD) is subdued below the signal line (orange band). The volume profiles also show large red nodes to signify abounding bearish sentiment in the SOL market.

This could extend the fall in the Solana price, potentially providing another buying opportunity at the bottom of the market range at $121.45.

Solana price

GeckoTerminal: SOL/USD 1-day chart

Conversely, resurgence among the bulls could see the Solana price recover and the trendline hold as a support. Based on the Fibonacci retracement indicator, key levels to watch are the 68.1%, 50%, and 38.2% Fibonacci retracement levels at $152.74, $162.41, and $172.07 respectively.

To confirm the uptrend, however, the bulls must manage to haul SOL above the 23.6% Fibonacci retracement level of $184.03. A stable candlestick close above this level would confirm the continuation of the uptrend. This could see that the Solana price reclaims the $203.36 range high, levels last tested on March 17.

Meanwhile, investors are seeking safe havens amid the crypto crash and one of them might be Sealana (SEAL), a Degen crypto meme coin that’s blasted past $5 million in funds raised in its presale. It’s now offering a last chance to buy before listing.

Renowned YouTuber Crypto Mischief sees it as a potential new Dogwifhat (WIF), another Solana meme coin that exploded upon launch.

Promising Alternative To Solana

SEAL, which powers the Sealana ecosystem, is a new contender in the Solana meme coin market, a token that distinguishes itself through a lighthearted narrative centered on a seal trader.

The token’s branding is based on a charming, chubby seal character who has dived deep into the ”Solana Sea.” The character, once sleek and agile, has now adopted a sedentary trader’s lifestyle, and grown fat on a diet of canned tuna and chips.

Jacob Bury, a crypto analyst on YouTube, says that SEAL has the potential to surge 10X after launch.

The SEAL presale will end on June 25 at 6 p.m. UTC, so there are only seven days left to buy the token, which costs $0.022.

Buy Sealana tokens on the official website here.

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