The cryptocurrency market has experienced significant losses recently, and Solana (SOL) has been particularly affected.
Although experts predict potential continued declines in the short term, there are signs that a recovery may be starting soon.
Buy Now?
Solana (SOL) recently dropped to around $60, a price it hadn’t seen since the end of last year. Currently, it’s trading at about $63 (according to CoinGecko), which represents a 33% decrease for the month. As a result, its total market value has fallen below $40 billion.
Ali Martinez believes the current low price of SOL could be a good time to buy. He points to a ‘buy’ signal from the TD Sequential indicator, suggesting the price might rise to $77 soon.
Solana’s Relative Strength Index is hinting at a possible price increase. The index recently dropped to around 15, which is the lowest it’s ever been. Generally, an index below 30 suggests an asset is oversold and could be due for a recovery. Conversely, a reading above 70 often signals that the price might fall soon.
A user named Henry expressed a positive view on SOL, despite its recent price drop. They believe the price looks promising and could potentially rise above $88 in a W-shaped recovery, as long as it can stay above $79.9. However, they cautioned that a fall below $60 could cause significant problems.
More Pain Ahead?
Even though there are some encouraging signs, the overall market is still leaning negative, and some believe the price of SOL could fall further. One user, known as cyclop, predicts a short-term drop to between $30 and $40 – a price level not seen since October 2023. However, this analyst remains hopeful about SOL’s future, suggesting it could rise to $300 within the next one to two years.
Recently, a lot of investors have moved their cryptocurrency from personal wallets to exchanges like Coinbase or Binance. This is worrying some people because it could lead to further price drops, as it creates more immediate selling and could trigger a correction.
A concerning trend is emerging: institutional investors are losing interest in Solana. Over the last few days, more money has left spot SOL ETFs than has entered them, suggesting that large investors like pension funds and hedge funds are decreasing their Solana holdings. As a result, the companies offering these ETFs, such as Bitwise, Fidelity, Grayscale, and Invesco, have had to sell actual Solana to maintain the value of their shares.
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2026-06-10 21:58