As per data from CoinMarketCap, Solana (SOL) is currently hovering at a price tag of $175.19 per SOL. Solana has made it to the particular mark after experiencing an 11.27% dip in the past 30-days. Coming down to the past 7-day performance, Solana’s price has experienced a 5.24% dip, followed by a 6.78% dip in the past 24-hours.
As of now, the sentiments of the investors are in the negative zone for Solana. The investors are highly likely to sell SOL in order to decrease their losses. Compared to the starting of the year, the price of SOL is in a bad shape. This means that the bears will have control of the market and they will continue with their selling attempts to pull its price even lower.
The 24h trading volume recorded for SOL is $2,435,889,276 and it has only dipped 0.24% in the particular period. This is an opening for the bulls, showing that the bears are currently not selling SOL on a larger scale. Therefore, the bulls can increase their buying power in order to bring the situation into their zone.
The data for SOL from TradingView shows that in the upcoming days, the bears may try pulling its price down to $150.12 per SOL. For this, the bears will have to proceed with their selling pressure. It is expected that the bulls may give a tough time to the bears at the $162.48 per SOL, which is a strong support mark for SOL.
However, if the bears continue selling SOL and trigger a high selling rally against SOL, they may be able to pull SOL’s price down to $150.12.
If the bulls come into action and are able to increase their buying power, they may be able to counter the bears. In that case, the bulls may be able to push SOL’s price over the $195.15 per SOL mark. If the bulls push further, they may be able to cross the $200 per SOL barrier.
The price analysis for Ripple (XRP) shows that it is down by 4.90% in the past 24-hours. In the past 7-days and past 30-days, XRP has also continued experiencing a downtrend, having observed 11.43% and 11.93% plunges respectively.
At the time of writing, XRP’s price is down to $0.8399 and the bears may try bringing it down to $0.7523 in the upcoming days. If the bears are able to make it happen, they may launch another selling spree against XRP. The selling spree from bears may help bring XRP’s price down to $0.7059 per XRP in the upcoming days.
If the bulls increase their buying power, they may be able to push it over the $0.9014 per XRP price. If that happens, the bulls may be able to launch a strong buying rally and push its price over the $0.9437 per XRP mark.
