Solana Drops 0.32% after Recent Upward Trajectory

Solana ($SOL) has witnessed a modest decrease on Saturday in its price following a notable upswing. In this respect, the market data reveals a 0.32% decrease in the popular crypto asset’s price over the past 24 hours. The respective price correction indicates a cooling sentiment among the investors in the short term. However, irrespective of this decline, the technical outlook of Solana ($SOL) stands strong.

$SOL Price Value:

In line with the exclusive market data, Solana ($SOL) is hovering around $202.67. This signifies a 0.32% decrease over the twenty-four hours. This modest weekend pullback takes place following a bullish price rise. Hence, it may lead to a notable reversal in the near term.

Statistical Data:

• Market Cap: The current market capitalization of Solana ($SOL) is $109.82B after a 0.18% dip.
• Volume (24h): $SOL accounts for $3.09B in its 24-hour volume after a 58.45% drop.
• Supply: The circulating supply of Solana ($SOL) stands at 541.88 $SOL, while its cumulative supply equals 609.18M $SOL.

$SOL Price Analysis

Solana ($SOL) commenced its latest 24-hour price trajectory at $203.46. However, in the following hours, it went through a considerable slump. As a result of this, its price dropped to a low of $199.64. Subsequently, it started recovery, reaching the $203.11 mark. Moving on, with a slight dip, the current price is $202.67.

This price movement shows a 0.32% decrease during the past twenty-four hours. However, this decline appears provisional and could pave the way for a substantial rebound. In the meantime, the market onlookers and the community members are positive for a subsequent upward streak.

$SOL Support and Resistance Levels:

As the new market data points out, $206.69 serves as the immediate resistance level for Solana ($SOL). Additionally, $209.86 and $212.82 are the 2nd and 3rd resistance levels.

On the other hand, $199.64 is Solana’s ($SOL) immediate support level. Apart from that, $197.91 and $194.37 are the subsequent support levels for $SOL.

$SOL Price Prediction:

Irrespective of the weekend dip, the overall market outlook of Solana ($SOL) remains optimistic. Hence, the popular crypto coin is anticipated to reach $208.75 over the next 30 days. This price level highlights a 3.86% upsurge from the current price. Nonetheless, as the next week is going to start tomorrow, it remains to be seen if $SOL continues to consolidate or experiences a rebound.