Solana Price Prediction: SOL Plunges 9% In A Week As This New Layer-2 Crypto ICO Charges Towards $18 Million
The Solana price is down more than 9% on the weekly time frame following a 3% drop in the last 24 hours to trade at $207.74 as of 10:40 p.m. EST as investors dump their holdings in the crypto. With the negative trend the SOL price has been in over the last 7 days, the altcoin’s monthly performance has been pushed 4% into the red zone as well. Solana Price Drops Below A Support Level 4-hour chart for SOL/USD (Source: GeckoTerminal) The Solana price dropped below the support level at $209.38 in the last couple of hours, and has since been trying to reclaim a position above the mark. If SOL is able to recover within the next 8 hours, it could rise to as high as $225.33 in the short term. On the other hand, the Solana price failing to close a 4-hour candle above $209.38 within the next 8 hours could lead to a more bearish scenario playing out in which traders start to short the altcoin. This potential sell pressure might result in a test of the immediate support level at $195....