Solana Price Prediction After Libra Scandal; New Token Shines
Solana Price collapsed this week, on the more disadvantaged side due to concerns about meme coins in the ecosystem jump. SOL tokens fell to $160 this week, and will soon form a high-risk death horizontal pattern on the daily chart. Therefore, the next step as a market expert Motaur?
Solana price forecast
Solana, one of the biggest players in the cryptocurrency industry, has fallen into a bear market, falling from $300 to $173. The coin will form a death cross pattern, which has a bigger drawback, which happens when the 200-day and 50-day moving averages flip each other.
Solana also forms a double-top pattern for $264 with a neckline of $170. Double tops are one of the most bearish patterns in technical analysis. It has also moved below the Ichimoku cloud indicator.
Additionally, Solana is below the key uptrend line of the lowest swing on August 5 last year since last August 5. Moving at this level is a sign that market participants expect further collapse in the coming months.
So, during this bear cycle, the Solana price may drop to $110. Such a collapse would mean the current level of 37%. On the other hand, the movement of resistance levels above $203, which is the 50-day moving average, will invalidate the bearish outlook.
Why does SOL price crash
There are two main reasons for the Solana price crash. First, the decline occurred due to the continued plunge of other cryptocurrencies. Bitcoin has dropped from $109,300 to $95,000, while most tokens like Cardano and Tron are in a steep bear market.
Second, Solana collapsed due to the prevalence of meme coins in its ecosystem. Most of the recently issued meme coins have been stuck, costing many participants billions and putting insiders in millions. The best examples are the official Trump and Libra, promoted by Javier Milei.
All of this has caused concern that Solana is a scam blockchain. It also caused a sharp drop in the volume processed by its DEX protocol.
Experts flock to the Minotaur
Crypto experts worry about the ongoing dilemma of Solana, which has flocked to the upcoming player of the gaming industry, Minotaurus. The Minotarus developers are creating games available on Android and iOS. This will be a simple game that millions of users are expected to enjoy.
Over the past few weeks, Minotaurus has spanned $1.75 million in pre-sale token sales, and that drive is booming. This trajectory occurs because many participants know their potential. First, in the blockchain and casual gaming industry, there is a total addressable market or TAM of over $50 billion. Participants also purchased MTAUR TOKEN because there is a promising upward path during the pre-sale period. Now, the price of the MTAUR token is 0.00010518, which is much lower than the final listing price. Users have opportunities Win big Passed a $100,000 gift. So, buy it quickly The Minotaurus Token is here.
