{"id":612223,"date":"2024-12-22T13:09:14","date_gmt":"2024-12-22T13:09:14","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=612223"},"modified":"2024-12-22T13:09:14","modified_gmt":"2024-12-22T13:09:14","slug":"solana-price-prediction-sol-slumps-7-as-experts-say-consider-this-new-solana-meme-coin-with-1143-staking-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-price-prediction-sol-slumps-7-as-experts-say-consider-this-new-solana-meme-coin-with-1143-staking-apy","title":{"rendered":"Solana Price Prediction: SOL Slumps 7% As Experts Say Consider This New Solana Meme Coin With 1,143% Staking APY"},"content":{"rendered":"

The Solana price plunged 7% in the past 24 hours to trade at $183.50 as of 8:13 p.m. EST on trading volume that slumped 42% to $6.9 billion, according to CoinGecko. <\/span><\/p>\n

Solana On A Bearish Trend<\/b><\/h2>\n

The SOL\/USDT chart on a 12-hour timeframe shows that the Solana price initially exhibited an uptrend, as seen by a series of higher highs and higher lows that peaked around its all-time high of $264.35 level. However, after reaching this high, the price began a clear downtrend, marked by consistent lower highs and lower lows.<\/span><\/p>\n

One notable feature is the Fair Value Gap (FVG) marked in red, indicating a potential liquidity zone around $155–$165. The Solana price is currently retracing toward this zone, which could act as support, offering buyers a potential area of interest.<\/span><\/p>\n

Additionally, the price of Solana has recently broken below both the 50-day and 200-day Simple Moving Averages (SMAs), a bearish signal that suggests further downside momentum in the short to medium term.<\/span><\/p>\n

The Relative Strength Index (RSI) is at 35, nearing oversold territory (below 30). This suggests that while the market is bearish, it may be approaching a point where sellers are exhausted, increasing the likelihood of a short-term relief rally or consolidation.<\/span><\/p>\n

\"Solana<\/p>\n

SOL\/USDT Chart Analysis (Source: Tradingview)<\/span><\/i><\/p>\n

Solana Price Prediction<\/b><\/h2>\n

The general Solana price outlook shows that the asset is currently on a bearish trend, with the bears capitalizing on the formation of the rounding top pattern. The pullback to the FVG aligns with a typical corrective structure following a steep downtrend, indicating that the market might seek to fill this gap before finding significant directional strength. If the bears continue pushing the Solana price down, SOL could retrace to the $155 zone.<\/span><\/p>\n

However, if the Solana price fails to hold the FVG as support, the bearish trend could deepen, with the next target around $151, based on the distance covered by the rounding top pattern.<\/span><\/p>\n

A bounce from this level could lead to a relief rally, targeting resistance levels near $186 or the 200-day SMA around $190.<\/span><\/p>\n

As the Solana price plummets, investors are still buying the new Solana meme coin <\/span>Solaxy (SOLX)<\/span><\/a>, which 99Bitcoins, a popular crypto channel on YouTube with over 719K subscribers, says might soar 100x after launch.<\/span><\/p>\n