{"id":610297,"date":"2024-05-29T02:00:43","date_gmt":"2024-05-29T02:00:43","guid":{"rendered":"https:\/\/uniquehot.com\/?p=610297"},"modified":"2024-05-28T18:21:40","modified_gmt":"2024-05-28T18:21:40","slug":"is-solana-preparing-for-liftoff-or-meltdown-analysts-forecast-sols-future","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/is-solana-preparing-for-liftoff-or-meltdown-analysts-forecast-sols-future\/","title":{"rendered":"Is Solana Preparing For Liftoff Or Meltdown? Analysts Forecast SOL\u2019s Future"},"content":{"rendered":"

After the recent market pump, Solana (SOL) recovered an important support zone. As a result, analysts have debated whether the altcoin is poised for a liftoff to a new all-time high (ATH) or about to face a meltdown.<\/p>\n

Related Reading: Solana (SOL) Eyes a Strong Comeback: Will the Rally Ignite a Surge?<\/a><\/div>\n

Analysts Fear SOL’s Top Is In<\/h2>\n

After recovering the $160 support zone over a week ago, Solana reached<\/a> heights not seen since the beginning of April. SOL neared the $190 resistance level but failed to surpass it. Instead, the token\u2019s price hovered between the $180 and $170 mark before returning near the $160 support zone over the weekend.<\/p>\n

Despite underperforming compared<\/a> to Bitcoin (BTC) and Ethereum (ETH), the token reached a new ATH in a key metric during this cycle. In March, Solana\u2019s market capitalization surpassed its previous ATH, reaching a market cap of $93 billion.<\/p>\n

Last week\u2019s pump saw SOL surge by over 56% from its price during the May 1 retrace, propelling its market cap above its 2021 ATH to levels resembling March\u2019s ATH. Nonetheless, some crypto analysts see the possibility of a meltdown<\/a> ahead for Solana.<\/p>\n

Crypto analyst Bluntz posted a video looking at SOL\u2019s macro chart. Per the post, the analyst considers that \u201cSOL is done, SOL is exhausted, and it\u2019s probably time for ETH to catch up, which will probably be the last leg of the bull market.\u201d<\/p>\n

The analyst considers the macro chart to display some concerning signs that suggest the token has \u201cprobably topped.\u201d Per Bluntz’s chart, SOL had a five-way climb to its cycle high of $210 in March. Despite not making the price ATH due to inflation, the analysts highlighted Solana\u2019s market cap ATH as a key factor.<\/p>\n

\"Solana\"
Solana’s macro chart. Source: Bluntz on X<\/a><\/figcaption><\/figure>\n

Moreover, the crypto trader pointed out a five-way decline since March\u2019s highs, followed by a three-way move up. To the analyst, this suggests that Solana is \u201cexhausted\u201d as it\u2019s starting to struggle.<\/p>\n

According to Bluntz, there\u2019s a high chance that the highlighted performance will result in a \u201cmacro lower high.\u201d Additionally, he forecasted SOL\u2019s price to retrace below the $100 mark.<\/p>\n

Is Solana Poised For A Liftoff Or A Meltdown?<\/h2>\n

Similarly, pseudonym analyst Credible issued<\/a> a warning regarding SOL\u2019s future. To the analyst, \u201ccoins like $SOL are just in larger distribution structures now.\u201d However, Credible considers that BTC\u2019s strength will relieve SOL as it initially \u201cdrags the whole market up.\u201d<\/p>\n

The analyst agreed with Bluntz\u2019s prediction, stating that it is \u201cultimately where we are headed,\u201d but considers there\u2019s a good chance Solana sees<\/a> highs above March\u2019s mark \u201cbefore the real meltdown.\u201d<\/p>\n

Nonetheless, some crypto analysts disagree with the gloomy forecast. DocXBT asserted he has \u201cseen a lot of terrible Solana takes lately.\u201d The analyst believes the token is \u201cholding daily trends\u201d and displays positive support and resistance levels.<\/p>\n

\"Solana,
SOL’s performance during this cycle. Source: docXBT<\/a><\/figcaption><\/figure>\n

Moreover, he considers that investors should \u201cstop overthinking it\u201d unless \u201cwe lose daily trends\u201d as the performance looks \u201csupper clean.\u201d<\/p>\n

Related Reading: Keeping Up With The Memecoins: Caitlyn Jenner\u2019s New Token Surges 50,000% Amid Controversy<\/a><\/div>\n

On a similar note, CryptoJelle pointed<\/a> out that SOL is \u201cforming the post-breakout higher low.\u201d To the analyst, Solana is following the same behavior it did during the February-March leg.<\/p>\n

Ultimately, Jelle suggests that the token could have found its bottom, and it\u2019s currently getting ready for liftoff to a new ATH. The analyst forecasted a $600 price prediction for SOL this cycle.<\/p>\n

\"SOL,
Solana is trading at $171.18 in the three-day chart. Source: SOLUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

After the recent market pump, Solana (SOL) recovered an important support zone. As a result, analysts have debated whether the altcoin is poised for a liftoff to a new all-time high (ATH) or about to face a meltdown. Related Reading: Solana (SOL) Eyes a Strong Comeback: Will the Rally Ignite a Surge? Analysts Fear SOL’s Top Is In After recovering the $160 support zone over a week ago, Solana reached heights not seen since the beginning of April. SOL neared the $190 resistance level but failed to surpass it. Instead, the token\u2019s price hovered between the $180 and $170 mark before returning near the $160 support zone over the weekend. Despite underperforming compared to Bitcoin (BTC) and Ethereum (ETH), the token reached a new ATH in a key metric during this cycle. In March, Solana\u2019s market capitalization surpassed its previous ATH, reaching a market cap of $93 billion. Last week\u2019s pump saw SOL surge by over 56% from its price during the May 1 retrace, propelling its market cap above its 2021 ATH to levels resembling March\u2019s ATH. Nonetheless, some crypto analysts see the possibility of a meltdown ahead for Solana. Crypto analyst Bluntz posted a video looking at SOL\u2019s macro chart. Per the post, the analyst considers that \u201cSOL is done, SOL is exhausted, and it\u2019s probably time for ETH to catch up, which will probably be the last leg of the bull market.\u201d The analyst considers the macro chart to display some concerning signs that suggest the token has \u201cprobably topped.\u201d Per Bluntz’s chart, SOL had a five-way climb to its cycle high of $210 in March. Despite not making the price ATH due to inflation, the analysts highlighted Solana\u2019s market cap ATH as a key factor. Moreover, the crypto trader pointed out a five-way decline since March\u2019s highs, followed by a three-way move up. To the analyst, this suggests that Solana is \u201cexhausted\u201d as it\u2019s starting to struggle. According to Bluntz, there\u2019s a high chance that the highlighted performance will result in a \u201cmacro lower high.\u201d Additionally, he forecasted SOL\u2019s price to retrace below the $100 mark. Is Solana Poised For A Liftoff Or A Meltdown? Similarly, pseudonym analyst Credible issued a warning regarding SOL\u2019s future. To the analyst, \u201ccoins like $SOL are just in larger distribution structures now.\u201d However, Credible considers that BTC\u2019s strength will relieve SOL as it initially \u201cdrags the whole market up.\u201d The analyst agreed with Bluntz\u2019s prediction, stating that it is \u201cultimately where we are headed,\u201d but considers there\u2019s a good chance Solana sees highs above March\u2019s mark \u201cbefore the real meltdown.\u201d Nonetheless, some crypto analysts disagree with the gloomy forecast. DocXBT asserted he has \u201cseen a lot of terrible Solana takes lately.\u201d The analyst believes the token is \u201cholding daily trends\u201d and displays positive support and resistance levels. Moreover, he considers that investors should \u201cstop overthinking it\u201d unless \u201cwe lose daily trends\u201d as the performance looks \u201csupper clean.\u201d Related Reading: Keeping Up With The Memecoins: Caitlyn Jenner\u2019s New Token Surges 50,000% Amid Controversy On a similar note, CryptoJelle pointed out that SOL is \u201cforming the post-breakout higher low.\u201d To the analyst, Solana is following the same behavior it did during the February-March leg. Ultimately, Jelle suggests that the token could have found its bottom, and it\u2019s currently getting ready for liftoff to a new ATH. The analyst forecasted a $600 price prediction for SOL this cycle. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":610298,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1119,89447,10923,8323,12837,83626,92246,92454,92060,83627],"class_list":["post-610297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btc","tag-crypto-analysts","tag-crypto-market","tag-eth","tag-sol","tag-solana","tag-solana-analysis","tag-solana-market-cap","tag-solana-prediction","tag-solusdt"],"acf":[],"yoast_head":"\nIs Solana Preparing For Liftoff Or Meltdown? 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.","url":"https:\/\/uniquehot.com\/author\/rubmargarcia\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is Solana Preparing For Liftoff Or Meltdown? 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