2024

Solana

Read

<ul>
 <li>Solana (SOL) exhibits sideways movement, hinting at a potential breakout after reaching a high near $125.</li>
 <li>SOL’s price currently consolidates between $99 and $109, aligning with key Fibonacci retracement levels.</li>
 <li>A clear trend awaits a decisive breakout, with a downside potential to $90 or an upside to $180.</li>
</ul>
<p>As the crypto world ushers in the New Year with cautious optimism, all eyes are on Solana (SOL) and its intriguing price behavior in January. Despite muted celebrations, the cryptocurrency market remains dynamic, and Solana’s price movements have not gone unnoticed.</p>
<p>SOL recently experienced a notable shift in its trajectory. After reaching a high near $125, the cryptocurrency faced strong selling pressure, leading to a modest yet rapid decline as 2023 came to a close. This pullback brought SOL to a critical juncture, testing the psychological support level of $100. For traders, this presented a long-awaited entry point.</p>
<p>Currently, SOL is ensnared in a narrow trading range, fluctuating between $99 and $109. Interestingly, this range aligns perfectly with the 39% and 24% Fibonacci retracement levels, adding to the significance of this phase. The crypto community is eagerly watching for any breakout, as it could set the tone for Solana’s future price trajectory.</p>
<p>At the time of writing, SOL is trading at $103, reflecting a minor intraday change of 0.44%. This minor fluctuation highlights the uncertain market sentiment that currently surrounds Solana. To establish a clear trend, a definitive breakout beyond this range is imperative.</p>
<figure class="wp-block-embed is-type-wp-embed is-provider-crypto-news-land wp-block-embed-crypto-news-land">
 <div class="wp-block-embed__wrapper">
  <blockquote class="wp-embedded-content" data-secret="S2DT9ShBLv"><a href="https://cryptonewsland.com/solana-price-prediction-ethereum/" rel="noopener noreferrer nofollow">Solana Price Prediction 2023 to 2031:&nbsp; Will SOL Reach $80 Soon?</a>
  </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" title="“Solana Price Prediction 2023 to 2031:&nbsp; Will SOL Reach $80 Soon?” — Crypto News Land" src="https://cryptonewsland.com/solana-price-prediction-ethereum/embed/#?secret=aWD1rFb7q4#?secret=S2DT9ShBLv" data-secret="S2DT9ShBLv" width="600" height="338" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
 </div>
</figure>
<p>The ongoing consolidation phase has led many to anticipate a decisive move in Solana’s price. If it breaks downward, a potential 10% drop to around $90 could occur. Conversely, an upward breakout carries the potential for a 25% gain, with targets set at retesting the $125 level and possibly extending toward the $180 mark if the uptrend gains momentum.</p>
<p>In conclusion, Solana’s journey in January 2024 is characterized by consolidation, setting the stage for an imminent price breakout. While uncertainties persist, the crypto community remains optimistic about Solana’s potential in the ever-evolving cryptocurrency industry.</p>
<p>As we look ahead, the future of SOL holds promise, with the potential for substantial gains on the horizon.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/how-solanas-bullish-trajectory-could-lead-to-a-120-breakout/" rel="noopener noreferrer nofollow">How Solana’s Bullish Trajectory Could Lead to a $120 Breakout?</a></li>
 <li><a href="https://cryptonewsland.com/when-can-we-expect-solana-to-surpass-the-75-mark-and-target-100/" rel="noopener noreferrer nofollow">When Can We Expect Solana to Surpass the $75 Mark and Target $100?</a></li>
 <li><a href="https://cryptonewsland.com/what-could-trigger-a-surge-in-solanas-sol-price-toward-120/" rel="noopener noreferrer nofollow">What Could Trigger a Surge in Solana’s SOL Price Toward $120?</a></li>
 <li><a href="https://cryptonewsland.com/is-solana-dead-here-are-the-facts-pushing-sol-to-ground/" rel="noopener noreferrer nofollow">Is Solana Dead? Here are the Facts Pushing SOL to Ground</a></li>
 <li><a href="https://cryptonewsland.com/can-solana-sol-enter-the-top-10-cryptocurrencies-in-2023/" rel="noopener noreferrer nofollow">Can Solana (SOL) Enter the Top 10 Cryptocurrencies in 2023?</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/how-will-solana-navigate-the-critical-junction-between-90-and-180-in-2024/" rel="noopener noreferrer nofollow">How Will Solana Navigate the Critical Junction Between $90 and $180 in 2024?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

How Will Solana Navigate the Critical Junction Between $90 and $180 in 2024?

Crypto News Land

Other articles published on Jan 1, 2024

Binance Coin (BNB) Price Analysis and Future Prospects

VanEck: spot Bitcoin ETF launch will not impact BTC price

Can SEC Make an Early Decision on Spot Bitcoin ETFs? Analyst Comments on ETFs!

$560m worth of crypto tokens to unlock this month

What Will Be The Price Impact If Bitcoin (BTC) Spot ETF Is Rejected? Analysts Explained

Exciting Predictions for Bitcoin Prices in 2024

Join our free newsletter for daily crypto updates!