{"id":625969,"date":"2025-02-12T03:22:41","date_gmt":"2025-02-12T03:22:41","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=625969"},"modified":"2025-02-12T03:26:43","modified_gmt":"2025-02-12T03:26:43","slug":"solana-price-prediction-as-franklin-templeton-registers-solana-trust-in-delaware-and-this-sol-focused-layer-2-crypto-ico-heads-for-20-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-price-prediction-as-franklin-templeton-registers-solana-trust-in-delaware-and-this-sol-focused-layer-2-crypto-ico-heads-for-20-million","title":{"rendered":"Solana Price Prediction As Franklin Templeton Registers Solana Trust In Delaware And This SOL-Focused Layer-2 Crypto ICO Heads For $20 Million"},"content":{"rendered":"

The Solana price dipped over 2% in the last 24 hours to trade at $196.35 as of 9:54 p.m. EST as investors decrease their exposure to the altcoin.<\/span><\/p>\n

The drop in the SOL price comes even after asset manager Franklin Templeton registered a trust in Delaware tied to a proposed spot Solana ETF (exchange-traded fund). This indicates that it may soon look to launch the fund in the US.<\/span><\/p>\n

Solana Price Resting On Support<\/span><\/h2>\n

\"SOL<\/p>\n

Daily chart for SOL\/USD (Source: GeckoTerminal)<\/span><\/p>\n

The <\/span>Solana<\/span><\/a> price is resting on the support at $195.19, <\/span>GeckoTerminal data<\/span><\/a> shows. Should the altcoin drop below this technical safety net within the next 8 hours, it could stand the risk of plunging to the subsequent support at $161.77.<\/span><\/p>\n

On the other hand, traders identifying SOL’s current price as a buy opportunity could lead to a rebound. In this alternative case, the Solana price might try to flip the resistance level at $221.69 into support. A daily candle close above this barrier could then lead to a climb to as high as $259.72 in the short term.<\/span><\/p>\n

Technicals Suggest The Solana Price Might Rise Soon<\/span><\/h2>\n

From a technical standpoint, indicators on SOLX’s daily chart suggest the crypto might start to climb soon. <\/span><\/p>\n

A major bullish technical flag is on the verge of being triggered by the Moving Average Convergence Divergence (MACD), as the MACD line rises towards the MACD Signal line. Should the MACD cross above the Signal line in the coming 24 hours, traders might interpret this as a sign that the <\/span>Solana<\/span><\/a> price has entered a new positive trend.<\/span><\/p>\n

Meanwhile, the Relative Strength Index (RSI) is hovering in the low 40s. While the current reading below the neutral 50 mark suggests sellers have the upper hand, it also indicates that SOL’s upside potential is greater than its downside potential. <\/span><\/p>\n

Traders might act on the signal presented by the RSI and start to go long on SOL if there is a bullish confirmation. They might wait for the MACD line to cross above the MACD Signal line.<\/span><\/p>\n

As SOL tries to recover, investors continue to pour capital into the Solana layer-2 project <\/span>Solaxy (SOLX)<\/span><\/a>. According to 99Bitcoins, a popular crypto channel on YouTube with over 724K subscribers, SOLX could soar 100X after its launch.<\/span><\/p>\n