Solana Price Prediction as SOL Shows Strong Recovery Signs — Is It Time to Load Up?
SOL has slid by 1.5% in the past 24 hours, with the Solana price dropping to $143.91 as the crypto market as a whole gains by a very modest 0.5% today.
This move means that SOL is basically flat in the past week, but also down by 22% in a month, amid a difficult period for the market.
Yet with the alt also sitting on a 550% gain in a year, and with the coin’s recent decline bottoming out, it’s in a position where it could recover strongly soon.
While SOL’s chart and indicators currently look pretty weak, they’re also in a position where the only way is up.
Its 30-day average (orange) dropped below the 200-day average (blue) early yesterday, so it’s only a matter of time before buyers take the bait of discounted prices.
Similarly, SOL’s RSI (purple) fell to 30 on more than one occasion yesterday, yet it’s now working its way back to 50, in a sign of returning momentum.
What’s encouraging is that the coin’s trading volume is still relatively high, at just over $4 billion, providing a signal that market interest remains.
Yet at the moment whales seem to be offloading the coin, as indicated by recent data.
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