{"id":641820,"date":"2025-04-07T09:34:53","date_gmt":"2025-04-07T09:34:53","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=641820"},"modified":"2025-04-07T09:34:53","modified_gmt":"2025-04-07T09:34:53","slug":"solana-price-prediction-sol-plunges-14-as-this-new-layer-2-crypto-presale-charges-towards-30-million-best-crypto-to-buy-now","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/sponsored\/solana-price-prediction-sol-plunges-14-as-this-new-layer-2-crypto-presale-charges-towards-30-million-best-crypto-to-buy-now","title":{"rendered":"Solana Price Prediction: SOL Plunges 14% As This New Layer-2 Crypto Presale Charges Towards $30 Million – Best Crypto To Buy Now?"},"content":{"rendered":"

The Solana price plunged 14% in the past 24 hours to trade at $102.45 as of 12:20 a.m. EST on trading volume that surged 184% to $5.2 billion.<\/span><\/p>\n

This drop in the SOL price comes as the crypto space plunged 10% in the last 24 hours to a $2.5 trillion market capitalization.<\/span><\/p>\n

While the crypto market had been resilient against the US President Donald Trump retaliatory tariffs, it has finally given way, as it is currently experiencing one of its most violent crashes.<\/span><\/p>\n

The Crypto Fear & Greed Index has finally shifted to extreme fear at 23, indicating that buyers are now panicking, triggering a selloff in the crypto space.<\/span><\/p>\n

\"Crypto<\/p>\n

Solana Price On A Sustained Bearish Trend<\/h2>\n

The <\/span>SOL price<\/span><\/a> reflects a bearish trend, emphasized by the formation of a double-top pattern, a classic reversal signal. <\/span><\/p>\n

This pattern is marked prominently on the chart, formed around the $200–$210 region, and signaled a weakened bullish momentum after a strong rally.<\/span><\/p>\n

According to <\/span>GeckoTerminal<\/span><\/a> data, the neckline of the double top, around the $170–$184 zone, acted as crucial support for some time before being decisively broken.<\/span><\/p>\n

Following the neckline breakdown, the Solana price attempted to consolidate within a fair value gap (FVG) zone, which spanned roughly from $120 to $137. <\/span><\/p>\n

However, the Breakdown Point label highlights the recent sharp move downward, taking price action below the FVG zone and into a more vulnerable position.<\/span><\/p>\n

The price of SOL trades well below the 50-day and 200-day Simple Moving Averages (SMAs), reinforcing a bearish market structure. <\/span><\/p>\n

In prior sessions, the 50-day SMA has also crossed below the 200-day SMA, indicating a death cross around $183.70, a longer-term bearish signal often used to identify the start of extended downtrends.<\/span><\/p>\n

The Relative Strength Index (RSI) is sitting at 31.90, which places it near oversold territory below 30.<\/span><\/p>\n

\"Solana
SOL\/USDT Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

SOL Price Prediction<\/h2>\n

Given the clean breakdown below the neckline and FVG zone, combined with both SMAs acting as dynamic resistance far above the current price, Solana’s price outlook leans bearish in the short to medium term.<\/span><\/p>\n

If the RSI remains near or below 30 for an extended period, there could be a short-lived relief rally, potentially retesting the $120–$137 zone (former FVG base). Still, unless the price of Solana can reclaim the $135 neckline, the bearish trend remains intact.<\/span><\/p>\n

Should downside pressure persist, the next support area to watch would be around the $90–$95 region. Any close below $100 would further validate that downside scenario.<\/span><\/p>\n

Meanwhile, investors are buying a new Solana meme coin called <\/span>Solaxy (SOLX)<\/span><\/a>, which 99Bitcoins, a popular crypto channel on YouTube with over 725K subscribers, says might soar 10x after launch.<\/span><\/p>\n