{"id":635873,"date":"2025-03-17T03:15:48","date_gmt":"2025-03-17T03:15:48","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=635873"},"modified":"2025-03-17T03:16:16","modified_gmt":"2025-03-17T03:16:16","slug":"solana-price-prediction-sol-plunges-5-as-traders-pivot-to-this-26-6m-layer-2-meme-coin-offering-a-153-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/sponsored\/solana-price-prediction-sol-plunges-5-as-traders-pivot-to-this-26-6m-layer-2-meme-coin-offering-a-153-apy","title":{"rendered":"Solana Price Prediction: SOL Plunges 5% As Traders Pivot To This $26.6M Layer-2 Meme Coin Offering A 153% APY"},"content":{"rendered":"

The Solana price plunged over 5% in the last 24 hours to trade at $128.22 as of 9:41 p.m. EST as investors lower their exposure to the altcoin.<\/span><\/p>\n

With the recent drop, the SOL price has pushed its weekly performance into the red zone.<\/span><\/p>\n

Solana Price Trying To Reclaim A Support Level<\/span><\/h2>\n

\"SOL<\/p>\n

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

The <\/span>Solana<\/span><\/a> price is attempting to recover back above the $128.57 mark after dropping below this price point in the last 24 hours, <\/span>GeckoTerminal<\/span><\/a> data shows. Should the crypto close a 4-hour candle above this level within the next 12 hours, it could have the foundation needed to rise to the $138.46 resistance level and potentially reach as high as $147.42.<\/span><\/p>\n

However, a rejection from the $128.57 level could invalidate the bullish thesis. In this more bearish scenario, traders might exert sell pressure on the Solana price. SOL could then end up testing the nearest support level at $120.09.<\/span><\/p>\n

Bulls Attempting To Take Control Of The Solana Price<\/span><\/h2>\n

From a technical standpoint, indicators on SOL’s 4-hour chart suggest bulls are trying to take control of the Solana price. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) show buyers currently have an opportunity to turn things around on SOL’s charts.<\/span><\/p>\n

That’s after RSI readings started to climb in the last few hours, indicating diminishing seller strength and increasing buyer strength. While the current reading below the neutral 50 mark is still bearish, the positive slope of the RSI line suggests that bulls might soon gain the upper hand and push the <\/span>Solana<\/span><\/a> price up.<\/span><\/p>\n

Meanwhile, SOL’s bearish momentum has started to cool. This is evident by the leveling off of the MACD Histogram, which indicates that the MACD line has stopped breaking away below the MACD Signal line. If the prior starts to rise towards the latter, it could lead to a bullish crossover.<\/span><\/p>\n

As bulls try to take control of the Solana price, investors are piling into the presale for a new SOL meme coin called <\/span>Solaxy (SOLX)<\/span><\/a> for gains. <\/span><\/p>\n

Several experts have shared their bullish predictions for SOLX. Among them is an analyst at 99Bitcoins, a prominent YouTube channel that boasts over 725K subscribers. In a recent video, the analyst said the presale token has the potential to surge 100X after its launch.<\/span><\/p>\n