Solana (SOL) fell to the $130 value stage earlier right now. This marked the second occasion of SOL falling to the $130 value stage in the previous couple of days. The favored crypto appears to have discovered some assist at this value level. Nevertheless, a dip beneath $130 might result in the asset falling to the $100 mark.
Will Solana Fall To The $100 Worth Degree If It Dips Under $130?
SOL has since recovered fairly a bit from right now’s descent. In keeping with CoinGecko’s Solana information, SOL’s value has rallied 3.5% within the final 24 hours. Regardless of the rally, the asset continues to be down by 8.1% within the weekly charts, 9.9% within the 14-day charts, and 22% over the earlier month. SOL was among the many best-performing cryptocurrencies of 2024, however the asset has misplaced all good points made within the final yr, dipping 38.6% since November 2024.
The $130 value level is an important stage for Solana (SOL). Dipping beneath $130 might pull the asset to round $100-$105, a stage final traded at in April of this yr. Dipping beneath $100 would spell critical hassle for Solana (SOL). The asset has not traded beneath $100 since January of 2024.
Regardless of the continuing bearishness, one should admit Solana’s (SOL) resilience. The asset fell to beneath $9 after the FTX debacle of 2022. Since its 2022 lows, SOL has hit a number of all-time highs. The asset hit its most up-to-date peak of $293.31 earlier this yr, in January. Given SOL’s unbelievable observe file, it might be protected to say that the venture might rebound to new highs as soon as the bear market is over.
Solana (SOL) will most probably observe Bitcoin’s (BTC) trajectory. A BTC reversal is probably going the one factor that may revive the market. Solana (SOL) additionally had a number of ETF launches over the previous couple of weeks. A market revival will probably result in a surge in ETF inflows, which in flip might additional push SOL’s value
