{"id":596537,"date":"2023-01-11T13:49:43","date_gmt":"2023-01-11T19:49:43","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/01\/11\/solanas-excellent-start-of-the-year-is-coming-to-an-end-sol-price-might-drop-to-12-soon\/"},"modified":"2023-01-11T13:49:43","modified_gmt":"2023-01-11T19:49:43","slug":"solanas-excellent-start-of-the-year-is-coming-to-an-end-sol-price-might-drop-to-12-soon","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/01\/11\/solanas-excellent-start-of-the-year-is-coming-to-an-end-sol-price-might-drop-to-12-soon\/","title":{"rendered":"Solana\u2019s Excellent Start of the Year is Coming to an End, SOL Price Might Drop To $12 Soon?"},"content":{"rendered":"
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The traders who experienced unrealized losses owing to the FTX collapse were charged up by the most recent Solana price rally. Since the FTX-related liquidity problem in November, the price of the Ethereum competitor has been steadily declining.<\/p>\n

Although the cryptocurrency is now in a bullish overall trend, it is uncertain whether a further surge will occur soon. Bitcoin has finally crossed the significant $17k mark, sending green waves across the market.<\/p>\n

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over 112% move from the lows on $SOL<\/a> in a clear V reversal 5 wave impulsive move, one of the clearest i can see across the board actually.<\/p>\n

over the coming weeks id anticipate an abc correcting that whole run, probs between 25-35% but itll likely be a dip to buy pic.twitter.com\/L49oIl7ZgV<\/a><\/p>\n<\/div>\n

\u2014 Bluntz (@SmartContracter) January 9, 2023<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

Returning to Solana, the coin has shown a very exceptional start to the year as the network\u2019s native cryptocurrency SOL had a significant rally over the past few days. According to the expert who correctly predicted the bottom of Bitcoin\u2019s bear market in 2018, Solana\u00a0 may be preparing for a big retracement. According to analyst Smart Contracter, Solana\u2019s excellent start to the year has probably come to an end.<\/p>\n

\u201cOver 112% move from the lows on SOL in a clear V reversal, five-wave impulsive move. One of the clearest I can see across the board, actually. Over the coming weeks, I\u2019d anticipate an ABC correcting that whole run, probably between 25%-35%, but it will likely be a dip to buy.\u201d<\/em><\/p>\n

The Elliott Wave theory, a technical analysis used by Smart Contracter, seeks to forecast future price movement by observing crowd psychology, which frequently manifests in waves. The theory states that a bullish asset often corrects (ABC wave) following a five-wave advance.<\/p>\n

According to the chart of Smart Contracter, at the 0.618 Fibonacci level, SOL is expected to decline below $12. At the time of writing, Solana is trading at $16 and is down by more than 5 percent.<\/p>\n

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Alex Kr\u00fcger, an economist, likewise believes that the recent price hikes for SOL are likely coming to an end. Kr\u00fcger asserts that the shorts that propelled SOL\u2019s rally have already been destroyed.<\/p>\n

\u201cBears wiped out. SOL funding markets back in balance. Think still has room to go, but the outperformance phase is mostly behind.\u201d\u00a0<\/em><\/p>\n<\/div>\n

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\n Qadir AK<\/p>\n","protected":false},"excerpt":{"rendered":"

The traders who experienced unrealized losses owing to the FTX collapse were charged up by the most recent Solana price rally. Since the FTX-related liquidity problem in November, the price of the Ethereum competitor has been steadily declining.Although the cryptocurrency is now in a bullish overall trend, it is uncertain whether a further surge will<\/p>\n","protected":false},"author":1,"featured_media":596538,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25267,70090],"tags":[],"class_list":{"0":"post-596537","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-excellent","8":"category-solanas"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/596537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=596537"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/596537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/596538"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=596537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=596537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=596537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}