The Solana price fell slightly by 1% to $55.13 over the past 24 hours. Nonetheless, a renowned analyst known as Immortal suggests that the price could surge by over 800% from its current value to hit $490.
The Risk of Losing Support
Solana price may risk losing the support of the key level at $49.65. If sell pressure continues, the cryptocurrency could drop to $40 in the short term. In a bearish scenario, it could plummet to $32.70 unless it stays above $49.65 for the next 72 hours.
If the price does not break below $49.65, it could lead to a capital injection and a potential rise to $70. A breach above this level could pave the way for the price to reach $100.
The Moving Average Convergence Divergence (MACD) indicator suggests a bearish trend, with the potential for the price to continue dropping in the next 24-48 hours.
Potential for a Rise in Solana Price
Bulls are fighting back to defend the $49.65 support level, and the Relative Strength Index (RSI) line is showing positive signs, indicating growing buyer strength.
For investors, considering Solana as it reaches fundraising milestones could be a good move.
Earning Passively Through BTC
Bitcoin Minetrix is offering investors a chance to earn passively through Bitcoin cloud mining. The project aims to address the increasing number of scams surrounding cloud mining through its decentralized platform.
Investors may want to take advantage of the upcoming halving event to stock up on Bitcoin Minetrix’s native token BTCMTX and build their BTC holdings through the platform’s cloud mining.
Hot Take
Bitcoin Minetrix’s Presale is about to end; it’s the last chance to buy before a potential price rise. This suggests buying the project’s native token BTCMTX could be a good option as the anticipation regarding the first Spot Bitcoin ETF entering the U.S. market grows.
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