Solana risks falling to $ 137

Cryptocurrency market analysts note: Solana price SOL $255.10 Solana 0.13% Market capitalization $121.09 billion VOL. 24 hours $1.35 billion is undergoing a short-term correction, which has caused the altcoin to lose its chance to reach $ 200

Despite the correction, there is a possibility that the price of Solana (SOL) will start growing again, as the market is sending mixed signals.

At the time of writing, the price of Anatoly Yakovenko’s native blockchain token fell to $ 166, falling below the critical $ 169 mark. This increased the bearishness of the crypto community.

In turn, if the flagship of the market BTC $98,986.30 Bitcoin 0.90% Market capitalization $1.96 trillion VOL. 24 hours $4.67 billion starts another rally, it will play into Solana’s hands. However, if BTC falls, SOL could also be at risk. The latter option seems more likely at the moment, as bitcoin has recently lost critical support at $ 68,500 and may continue to fall. As a result, SOL could fall to a low of $ 156 and then to $ 137.

However, if the overall market signals turn positive and the price of bitcoin recovers, Solana may also show positive dynamics. This could counteract the current bearish sentiment of SOL and cause consolidation between $ 169 and $ 156. Market optimism could ultimately lead to a breakout above $ 169 and a rise to $ 200, which would cancel the bearish scenario.