The Solana (SOL) blockchain has once again attracted attention with its recent growth and notable record-breaking on its network. The Solana ecosystem reached its all-time high market capitalization (ATH) surpassing the $80 billion mark recently.

In a landmark development, the price of the Solana cryptocurrency is rapidly approaching the $200 zone for the first time since December 2021.

At the time of publication, the price of Solana was listed at US$189.22, up 4.0% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$11,514,713,441. In the last 30 days, the price of Solana has shown a growth of 29.6%.

Solana occupies fifth place in the ranking by market capitalization. Currently, the cryptocurrency has a capitalization of $84,172,727,137, rising more than the peak it registered in November 2021, setting new all-time highs.

It is worth remembering that Solana managed to reach a new price peak at the beginning of the month with the Frenzy in Blockchain-based Meme Coins such as BONK and dogwifhat (WIF). The current scenario is heavily influenced by the growing interest in meme coins, with BONK and Dogwifhat leading the charge.

Will Solana Price Drop 28%?

An analyst recently shared a worrying prediction related to the Solana cryptocurrency, highlighting the possibility of a drop in its price soon. Renowned cryptocurrency analyst Ali Martinez highlighted in a shared technical analysis on March 14 a prediction that the price of Solana could fall by up to 28%.

The expert noted that the TD Sequential indicator is showing a sell signal on the Solana token’s daily chart, emphasizing that the market’s fifth-largest asset could experience a significant drop to the $152 or $127 levels soon.

“TD Sequential presents sell signal on Solana daily chart! Since December 2023, whenever this indicator suggested selling, the price of $SOL fell by 17% to 28%. A similar outlook could see SOL return to $152 or even $127,” the analyst wrote.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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