The Solana price has dipped to $142 today, following a difficult morning that has seen the crypto market drop by 2.5%.
The market is reeling from a combination of Judge Torres’ latest ruling in the long-running Ripple-SEC case and of ongoing insecurity in the Middle East, not to mention the possibility that President Donald Trump may replace Federal Reserve Chairman Jerome Powell earlier than expected.
In this context, Solana is down by 4% in a week and by 18% in the past month, and some analysts have predicted that the coin could drop further now that it has fallen below $144.
But while the near term may be negative for SOL, the coin’s fundamentals continue to give it a very positive long-term price prediction.
Solana Price Prediction – Hanging by a Thread: Why This Week Could Decide Everything
Posting on X, analyst and trader Sjuul Follings – AKA AltCryptoGems – suggested that SOL had completed a V-shaped recovery from recent lows, and that it could rally further if it crossed $148.
However, he also predicted that, if the Solana price dropped below $144, the coin could drop further.
And the Solana price has indeed declined below $144, with its indicators supporting the view that it could fall further in the next few days.
Looking at its chart today, we see that its MACD (orange, blue) could continue its decline if it’s going to replicate the lows it witnessed in March.
Likewise, SOL’s RSI (purple) has been below 50 for nearly a month now, but it was below 50 for all of February and March before we saw a real recovery.
Again, this could mean that the Solana price will drop towards $135 or $130 in the next week or so, before potentially rebounding.
Source: TradingViewIn the longer term, Solana’s position remains very strong, given its fundamentals as the second-biggest layer-one network in crypto.
It has a couple of big upgrades to look forward to later in the year (Alpenglow and Firedancer), while we may also see the arrival of Solana ETFs.
Because of this, SOL could easily hit $250 again by Q4, and possibly finish the year at $500.
Snorter Trading Both Raises Over $1 Million in Presale: Is the Best New Coin in Crypto?
Traders looking to diversify away from major tokens may also be interested in checking out presale tokens, since these can often rally strongly when they list for the first time.
This is particularly the case if they’ve had big, popular sales, with one successful presale coin right now being Snorter (SNORT).
Running on Ethereum and Solana, Snorter has raised just over $1.2 million, which will run for the next few weeks.
Snorter has been able to raise this sum of money because of its interesting fundamentals, with the project preparing to launch an automated sniping bot.
As a sniping bot, Snorter will make early trades on behalf of its users, enabling them to buy up high-potential new tokens before the market arrives.
It will also enable copy trading of successful investors, atomic swaps (with MEV protection), limit orders, and protection against honeypots and rugpulls.
This makes it one of the most comprehensive trading bots in crypto, which helps to explain why investors are racing to SNORT’s presale.
You can join it by visiting the Snorter website and connecting a compatible wallet, such as Best Wallet.
It’s currently available at $0.0965, although this will rise multiple times before the sale ends.
The post Solana Price Prediction – Hanging by a Thread: Why This Week Could Decide Everything appeared first on Cryptonews.
