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Is Solana Price Heading to $100 After Strong Market Corrections?
The post Is Solana Price Heading to $100 After Strong Market Corrections? appeared on BitcoinEthereumNews.com. Solana has breached the $200 support level due to the recent collapse in Bitcoin below $100,000. Despite the stellar performance of this Ethereum-killer, the recent drop below a key level hints that a corrective phase may have begun. With bearish market structure and on-chain data suggesting further downside, will Solana price drop to $100 amid sellling pressure? Will Solana Price Break Below $100 After Losing Key Support? Solana price has slipped below the $200 support level, raising concerns about a potential drop to $100. This comes as the crypto market experienced a widespread downturn following the recent Federal Open Market Committee (FOMC) meeting. Recently, in the meeting the Federal Reserve reduced the interest rates by 25 basis points, which was anticipated by the market. But the uncertainty arose when the Federal Reserve Chair Jerome Powell mentioned that there may be no more rate cuts until 2025. This has put pressure on markets in general with cryptocurrencies not being an exception. Bitcoin led the decline, while top altcoins followed suit, with meme coins among the hardest hit. Solana has seen a sharp drop, falling from a peak of $263 to the current levels of $180 decreasing by 30%. As of the time of reporting, the SOL price is hovering at $183, with a 12% loss in the past day, adding to the overall bearish sentiment. The Relative Strength Index (RSI) remains below 40 signaling weakness and potentially oversold conditions. If the RSI trends toward 30, additional selling pressure may emerge. Solana Price Chart: TradingView With the ongoing market corrections, if bears gain momentum, the Solana price forecast suggests a potential drop to $160. A further breakdown could push the token lower to $140, and possibly $100. However, If bulls makes a comeback, Solana might experience a reversal, aiming for the $200…
The post Is Solana Price Heading to $100 After Strong Market Corrections? appeared on BitcoinEthereumNews.com.
Solana has breached the $200 support level due to the recent collapse in Bitcoin below $100,000. Despite the stellar performance of this Ethereum-killer, the recent drop below a key level hints that a corrective phase may have begun. With bearish market structure and on-chain data suggesting further downside, will Solana price drop to $100 amid sellling pressure? Will Solana Price Break Below $100 After Losing Key Support? Solana price has slipped below the $200 support level, raising concerns about a potential drop to $100. This comes as the crypto market experienced a widespread downturn following the recent Federal Open Market Committee (FOMC) meeting. Recently, in the meeting the Federal Reserve reduced the interest rates by 25 basis points, which was anticipated by the market. But the uncertainty arose when the Federal Reserve Chair Jerome Powell mentioned that there may be no more rate cuts until 2025. This has put pressure on markets in general with cryptocurrencies not being an exception. Bitcoin led the decline, while top altcoins followed suit, with meme coins among the hardest hit. Solana has seen a sharp drop, falling from a peak of $263 to the current levels of $180 decreasing by 30%. As of the time of reporting, the SOL price is hovering at $183, with a 12% loss in the past day, adding to the overall bearish sentiment. The Relative Strength Index (RSI) remains below 40 signaling weakness and potentially oversold conditions. If the RSI trends toward 30, additional selling pressure may emerge. Solana Price Chart: TradingView With the ongoing market corrections, if bears gain momentum, the Solana price forecast suggests a potential drop to $160. A further breakdown could push the token lower to $140, and possibly $100. However, If bulls makes a comeback, Solana might experience a reversal, aiming for the $200…
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