Solana Price Prediction as SOL Drops 5% Overnight – What’s Going On?
Solana (SOL/USD) has experienced a notable setback, dropping 5% overnight to trade at $135. Holding the fifth position on CoinMarketCap with a market capitalization of $60.41 billion, Solana’s downturn highlights the volatility inherent in the cryptocurrency market.
Despite a substantial trading volume of nearly $2 billion in the same period, the sharp decline prompts a closer examination of the factors influencing Solana price prediction.
From a technical perspective, Solana is trading near a pivotal point at $133.77. This level is crucial as it could determine the immediate directional bias for the token. If Solana maintains above this pivot, bullish sentiment may prevail, but a break below could precipitate a sharp selling trend.
Looking at resistance levels, the immediate barrier stands at $145.41. Should Solana break past this point, the next resistance levels are pegged at $160.58 and $175.43, respectively. These figures represent potential targets for buyers if upward momentum continues.
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