{"id":576233,"date":"2024-09-13T07:38:11","date_gmt":"2024-09-13T07:38:11","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=576233"},"modified":"2024-09-13T07:38:11","modified_gmt":"2024-09-13T07:38:11","slug":"solana-price-prediction-sol-drops-7-in-a-month-as-investors-fomo-buy-this-casino-token-with-time-running-out","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-price-prediction-sol-drops-7-in-a-month-as-investors-fomo-buy-this-casino-token-with-time-running-out","title":{"rendered":"Solana Price Prediction: SOL Drops 7% In A Month As Investors FOMO Buy This Casino Token With Time Running Out"},"content":{"rendered":"
The Solana price is down more than 7% over the past month following a <\/span>small<\/span><\/a> loss in the past 24 hours to trade at $134.83 as of 11:28 p.m. EST.<\/span><\/p>\n Despite the recent set back, the SOL price has still skyrocketed more than 650% in the past year.<\/span><\/p>\n <\/p>\n 4-hour chart for SOL\/USD (Source: <\/span>GeckoTerminal<\/span><\/a>)<\/span><\/p>\n The <\/span>Solana<\/span><\/a> price is attempting to overcome the resistance level at $139.37. Should it close a 4-hour candle above this barrier within the next 12 hours, the crypto could have the room needed to keep climbing in the following couple of days. This might then lead to SOL rising to as high as $152.78 in the short term.<\/span><\/p>\n On the other hand, the Solana price failing to establish a position above $139.37 in the coming 12 hours might invalidate the bullish thesis. In this alternative scenario, traders could begin to exert sell pressure on SOL. The altcoin might end up testing the $125.25 support as a result.<\/span><\/p>\n In an extremely bearish scenario, the Solana price could plunge to $109.74 if sellers decide to keep dumping the altcoin should it drop to the $125.25 mark in the next 48 hours.<\/span><\/p>\n Technical indicators on SOL’s 4-hour chart suggest the crypto’s price has stalled and is losing some of its bullish momentum. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are starting to show bearish signs.<\/span><\/p>\n RSI readings have oscillated within the low to mid 50s. Although the indicator’s value above 50 suggests bullish strength, the negative slope of the RSI line warns that bears could easily take control of the <\/span>Solana<\/span><\/a> price at any moment.<\/span><\/p>\n The MACD Histogram also turned positive throughout the past day of trading to signal that SOL has entered a short-term positive trend. However, the indicator’s value started dropping as the Solana price approached the $139.37 resistance level. Traders might see this as an early indication that the crypto will get rejected by the price point.<\/span><\/p>\nThe Solana Price Attempting To Overcome A Major Resistance<\/span><\/h2>\n
Technicals Warn The Solana Price Could Be Rejected By The $139.37 Mark<\/span><\/h2>\n