Solana Price Analysis: $SOL Further Plunges by 3.92%

Solana ($SOL) is going through a considerable downturn with consistent price declines. As per the data from CoinMarketCap, the price of $SOL has slumped by up to 3.92% over the recent twenty-four hours. With this decline, the risk of further price drop has increased. Nonetheless, keeping in view the historical fluctuation patterns of Solana ($SOL), there remains a considerable possibility for a recovery.

Solana ($SOL) Price Value

In line with the exclusive data, $SOL’s current price is moving around $115.08. At this point, the price change over the past 24 hours denotes a 3.92% decline. This seems to be a significant dip and could trigger a further downward spree. However, the community stays positive about the rebound following this apparently short-term price decrease. Such fluctuations often take place in the notable crypto assets like Solana ($SOL). Hence, the price performance of $SOL would be very crucial in the upcoming days to anticipate the future direction.

Solana’s Statistical Data

• Market Cap: The current market capitalization of $SOL accounts for $59,223,824,273.32.
• Volume: In terms of 24-hour volume, $SOL possesses $4,032,270,538.02
• Supply: $SOL’s circulating supply is 514,450,517.47 $SOL while its total supply stands at 597,685,818.69 SOL

$SOL Price Analysis

$SOL began its new 24-hour trading candle at the price $120.37. Subsequently, it was hit by a massive downturn as the price plunged to $112.47. Nonetheless, this led to a rebound and the price reached the height of $117.31. However, again, $SOL’s price could not stay there for long and recorded another dip. This pushed the price back at $114.81. At present, with a slight uptake, the price is hovering around $115.08.

Keeping this in view, the current price position highlights a 3.92% drop over the recent 24 hours. Even then, as the previous market patterns indicate, $SOL could jump back as the notable price dips pave the way for remarkable spikes. Thus, the market onlookers keep looking for the potential signs of a recovery.

$SOL Support and Resistance Levels

The current price spot of $SOL signifies $120.51 as the immediate price resistance level. Nevertheless, if $SOL surpasses this level, $135.69 and $152.77 serve as the second and third resistance levels.

Contrarily, $SOL’s immediate support level currently stands at $112.47. However, a decline below this level could trigger $110.6 and 100.45 as the 2nd and 3rd support levels.

Price Prediction for Solana ($SOL)

Although the ongoing price dip shows a momentary negative outlook for Solana ($SOL), the popular crypto token could still make a rebound. Hence, in the case of a recovery, $SOL is predicted to reach the $140.10 mark in the upcoming thirty days. In this respect, $SOL has the potential to see an 11.01% price increase over the month.