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Solana (SOL) fell by 8%, falling from $125.34 on the opening day to $115.39 following economic uncertainty caused by the Federal Reserve’s decision to keep interest rates unchanged at a range of 4.25-4.50%.
Despite the price drop, today’s forecast for Solana shows that buyers could recover as much as $135 if the increased trading volume means the advance of the SOL indicator.
Solana beats Ethereum, Base Network, and BNP in trading performance
According to More from DefiLlama Solana recorded the highest on-chain transaction volume across all blockchains in the last 24 hours, approaching $4 billion, much more than competing chains including Ethereum ($1.74 billion), BNB chain ($1.68 billion), and the Base network (1.16 billion dollars).
At the same time, active addresses have increased significantly, with more than 2.7 million wallets participating in the group this week.
This rise is mainly due to meme money, which has started to introduce new services in the market.
The SOL token must now re-evaluate its value to accommodate this increased activity.
Over the past 12 months, the cryptocurrency’s price has fallen by nearly 50%, and has lost a lot since hitting $294 in January last year.
Multicoin Capital experts believe Solana’s price should double its current price of $115, citing advanced online payment technology, unique user experience, and near-zero fees, he said.
These views are consistent with Comments The latest was made by the founder of Solana, Anatoly Yakovenko, in an interview on the “Influence Theory” program:
“What is important to me is that we provide value to consumers that can be obtained through the protocol. This future investment is a future return.”
Solana Price Prediction: SOL is facing a tough test at $116
The SOL/USDT daily chart shows a market that remains in a stable position, with recent prices encouraging a bearish trend rather than showing a definite reversal.
Solana is trading around $116-117 after a strong rejection from the $133-135 area, an area that is now known as a major resistance.
This area is closely aligned with the 50-day EMA and the previous breakout pattern, suggesting that traders will continue to aggressively defend rallies.
According to the trends, the price remains below the 50-day, 100-day, and 200-day EMA, all of which are falling.
This reconciliation between the currents ensures that everything is still moving, and the recent explosion seems to be corrective rather than impulsive.
A failure to retrace even the 50-day EMA indicates that the uptrend is weak and there is no trading volume needed to follow.
The $116 level represents important support and is currently being tested. This area has always been an important place, but repeated attempts increase the risk of falling.
A daily clean close below $116 would open the door to the next support around $110, and possibly lower if the sell-off accelerates.
On the other hand, any attempt to resume may need to recover the level of $ 134 with a strong trading volume to change the short-term trend, which can reveal the area of ​​$ 156-162 as a high target for recovery, although this seems less likely.
70% annual return: MaxiDog raises $4.47 million as memcoins return
If SOL regains the level of $134 and resumes its upward trend, projects already bought e.g. Motherxand Doge (MAXI) It could attract investment from investors looking for high ROI opportunities in the growing meme sector.
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The MAXI pre-sale has been collected More than $4.5 million giving participants a 70% annual bonus at the current price of $0.0002801.
Interested participants can participate by visiting Maxi Doge’s official website And connect cryptocurrency DEX wallet like Best Wallet.
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A note Solana Price Forecast: SOL price down 8% despite $4B DEX trading volume – Can bulls recover $135 support level? appeared for the first time Cryptonews Arabic.
