Solana Price Dips as Meme Coin Hype Fades
Sorana (solid) It has been in a downward trend since January 19th reached the highest historical high at 295.83 US dollars. The current transaction price of alternative currencies is $ 226, a 23 % decrease from its peak.
With the resumption of market control, SOL is facing the face of sales pressure and weakened demand.
Solana’s demand is weakened, because the hype of coins is reduced
right Trump -based coin -based coin Trump On January 19, Sol pushed Sol to a new historical highest high at 295.83. Melanian model cause coinTrump’s trade activities gradually disappeared. This has led to a decline in activities on the Solana network, which affects SOL’s performance.
The transaction price of Sol (SOL) was $ 226 when writing this article, and noticed that it has fallen by 9 % in the past 24 hours. This has pushed its price to the index moving average (EMA) for 20 days, which is the key indicator of the weak momentum.
The 20 -day EMA measures the average asset price of the past 20 trading days, making the recent price heavier to highlight the short -term trend. When the price of assets is lower than the average level of this key, it shows that the momentum is transferred to an unfavorable side, which shows that the upward trend weakens when the sales pressure increases.
In addition, the setting of SOL’s moving average convergence differences (MACD) indicator supports this loser prospect. At the time of time, SOL’s MACD cable (blue) It is expected to interrupt below its signal line (orange).
When the MACD of assets is set in this way, it implies the cross -seeing cross, indicating that the sales momentum is being built, suggesting that the continuous price declines.
Sol price Forecast: The decline below $ 210 is imminent
If SOL’s sales pressure is strengthened, the number of Fibonacci retracement tools indicate that its price may be less than $ 210 and traded at a price of $ 202.73.
On the other hand, the surge in the new demand for Altcoin will invalidate the prediction of this view. in this case, Solana’s price is OK Try to restore its historical highest level.
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