{"id":4102,"date":"2024-10-27T13:53:09","date_gmt":"2024-10-27T13:53:09","guid":{"rendered":"https:\/\/solanacrypto.news\/2024\/10\/27\/does-solanas-price-have-shot-at-180-again-after-6-drop\/"},"modified":"2024-10-27T13:53:09","modified_gmt":"2024-10-27T13:53:09","slug":"does-solanas-price-have-shot-at-180-again-after-6-drop","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2024\/10\/27\/does-solanas-price-have-shot-at-180-again-after-6-drop\/","title":{"rendered":"Does Solana\u2019s Price Have Shot at $180 Again After 6% Drop?"},"content":{"rendered":"
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Solana\u2019s price recently faced challenges in maintaining $175 as a support level, which halted its upward momentum after weeks of gains. This loss in bullish momentum has put SOL<\/a> under pressure, making it vulnerable to a potential drawdown.\u00a0<\/strong><\/p>\n

As traders assess the outlook, Solana\u2019s price action is becoming a key focus for market participants, particularly after recent setbacks.<\/p>\n

Solana Is Losing Its Bullishness<\/h2>\n

In the past 24 hours, traders who placed long positions on Solana experienced<\/a> substantial liquidations, signaling a shift in market sentiment. The recent drop in SOL\u2019s price triggered about $25 million in long liquidations, the largest single-day liquidation for Solana<\/a> in three months.<\/p>\n

The scale of these liquidations may have shaken confidence among bulls, potentially leading some investors to step back. However, while the market appears cautious, the extent of long liquidations also highlights the volatility<\/a> in Solana\u2019s price action.<\/p>\n

Read more:\u00a0Solana vs. Ethereum: An Ultimate Comparison<\/a><\/strong><\/p>\n

\"Solana
Solana Liquidations. Source: Coinglass<\/a><\/figcaption><\/figure>\n

The macro momentum for Solana is showing<\/a> signs of slowing, with technical indicators like the Moving Average Convergence Divergence (MACD) pointing to a potential shift. The MACD histogram bars are shrinking, signaling a decrease in bullish momentum and hinting at a possible downturn.<\/p>\n

The receding MACD bars suggest that Solana\u2019s recent uptrend might be losing steam, with bearish sentiment building in the background. This transition in momentum could indicate that Solana is entering a consolidation phase or, worse, a more significant retracement.\u00a0<\/p>\n

\"Solana
Solana MACD. Source:\u00a0TradingView<\/a><\/figcaption><\/figure>\n

SOL Price Prediction: Braving the Barriers<\/h2>\n

After experiencing a 7% drop in the past day, Solana\u2019s price<\/a> has retreated to $169, failing to secure $175 as a support. The peak of bullish momentum appears to have reversed, leading to a downward trajectory that could push SOL lower if buyers do not step in. The next support level at $161 is crucial, and Solana may breach it if current trends continue.<\/p>\n

Should SOL lose the $161 support, it could descend to $155 or even lower, depending on selling pressure. This decline would further confirm bearish sentiment, making a recovery more challenging unless buying interest picks up significantly.<\/p>\n

Read more:\u00a0Solana (SOL) Price Prediction 2024\/2025\/2030<\/a><\/strong><\/p>\n

\"Solana
Solana Price<\/a> Analysis. Source:\u00a0TradingView<\/a><\/figcaption><\/figure>\n

However, if bullish sentiment regains strength, Solana may stabilize<\/a> and attempt another rally. A successful break above $175 could invalidate the current bearish thesis, potentially propelling Solana back toward $180.<\/p>\n

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Disclaimer<\/p>\n

In line with the Trust Project<\/a> guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our\u00a0Terms and Conditions<\/a>,\u00a0Privacy Policy<\/a>, and\u00a0Disclaimers<\/a>\u00a0have been updated.<\/p>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

Solana\u2019s price recently faced challenges in maintaining $175 as a support level, which halted its upward momentum after weeks of gains. This loss in bullish momentum has put SOL under pressure, making it vulnerable to a potential drawdown.\u00a0 As traders assess the outlook, Solana\u2019s price action is becoming a key focus for market participants, particularly […]<\/p>\n","protected":false},"author":1,"featured_media":4103,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/4102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/comments?post=4102"}],"version-history":[{"count":0,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/posts\/4102\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media\/4103"}],"wp:attachment":[{"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/media?parent=4102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/categories?post=4102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/solanacrypto.news\/wp-json\/wp\/v2\/tags?post=4102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}