Convergence

bullish

Solana

Story

Divergence

<div id="story-highlight-pattern-block" class="wp-block-group">
 <div id="story-highlights" class="wp-block-group">
  <h3 class="wp-block-heading the-subtitle" id="story-highlights">Story Highlights</h3>  
  <ul class="wp-block-list story-highlights-list">
   <li>The Solana price enters into a consolidated phase by recording a variation of ~1% in seven days.</li>  
   <li>The technical indicators record a mixed price sentiment, indicating uncertain short-term price action.</li>  
   <li>Positively, a bullish reversal could push the price toward a new ATH beyond the $263.83 mark.</li> 
  </ul>  
  <p>With the Bitcoin price experiencing a significant price correction overnight, the crypto market has lost ~$137 billion in 24 hours. Following this, top altcoins such as Solana have failed to maintain their bullish sentiment.</p>  
  <p>Moreover, with speculation of the Securities and Exchange Commission (SEC) rejecting at least two out of five Solana ETF applications, will the Solana price experience a significant price correction during the upcoming weeks?&nbsp;</p>  
  <h2 class="wp-block-heading" id="h-sol-price-records-consolidated-price-action">SOL Price Records Consolidated Price Action!</h2>  
  <p>With the rising bearish sentiment, THE Solana price has dropped by 4.27% in 24 hours with a trading volume of $8.226 billion. Notably, with a neutral price action over the last seven days, this altcoin has entered into a consolidated price trend.</p>  
  <figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/06183526/Solana-Price-Analysis-06th-December-2024-1024x540.webp" alt="Solana Price Records Consolidated Price Action!" class="wp-image-390161">
   <figcaption class="wp-element-caption">
    TradingView: SOL/USDT
   </figcaption>
  </figure>  
  <p>The Simple Moving Average (SMA) constantly acts as a resistance to the SOL price chart in the daily time frame. This highlights a weak bullish sentiment for the altcoin in the cryptocurrency market.</p>  
  <p>However, the Moving Average Convergence Divergence (MACD) displays a constant decline in its red histogram, whereas its averages show a steady decline. This suggests a mixed price action for the 05th largest crypto token.</p>  
  <h2 class="wp-block-heading" id="h-will-sol-hit-300-in-2024">Will SOL Hit $300 In 2024?</h2>  
  <p>Suppose, the market bulls regain traction, this could result in the Solana price breaching its $250 mark and retesting its high of $263.83. Moreover, if the bullish sentiment intensifies, it could head toward its upper price target of $300 this year.</p>  
  <p>Conversely, if the bears outrun the bulls, this could result in the SOL coin price retesting its psychological barrier of $225. Negatively, if the bears fail to regain momentum at that point, this could pull the price of this altcoin toward its lower support level of $210.</p>  
  <p>Planning on investing in this altcoin before the AltSeason kickstarts? Read CoinPedia’s <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Solana Price Prediction</a>. Also, subscribe to us to get insights and happening in the cryptocurrency market first!</p>  
  <h2 class="wp-block-heading" id="h-faqs">FAQs</h2>  
  <div class="schema-faq wp-block-yoast-faq-block">
   <div class="schema-faq-section" id="faq-question-1733490218443"><strong class="schema-faq-question"><strong>What will be the price of Solana in 2025?</strong></strong>
    <p class="schema-faq-answer">With increased adoption and rising bullish sentiment, the SOL price could reach a maximum of $750 during 2025.</p>
   </div>
   <div class="schema-faq-section" id="faq-question-1733490219131"><strong class="schema-faq-question"><strong>Can SOL reach $1000 USD?</strong></strong>
    <p class="schema-faq-answer">For the Solana price to achieve this milestone, it will require a surge of 327.04% in its current valuation.</p>
   </div>
   <div class="schema-faq-section" id="faq-question-1733490219737"><strong class="schema-faq-question"><strong>How much is Solana worth today?</strong></strong>
    <p class="schema-faq-answer">The SOL coin price is currently trading at $234.17, with a 24-hour trading volume of $8.301 billion.</p>
   </div>
  </div> 
 </div> 
</div>

Solana Price Uncertainty Intensifies! SOL Price Eyes A Retest At $200?

Table of Contents

CoinPedia News

Other articles published on Dec 6, 2024

Chainlink (LINK) to Continue Upside if Price Closes Above Key Level: Strong Resistance Threatens ...

Bitcoin Surpasses $100,000 as Positive Factors Drive Market Growth

Velar DEX Introduces Permissionless Pool Creation on Stacks

David Sacks appointed as first-ever White House Crypto Czar. He loves Solana

VET Price Prediction: Could 2025 Mark a Historic Year for VeChain?

Pudgy Penguins Token PENGU Set to Launch Late 2024

Join our free newsletter for daily crypto updates!