The cryptocurrency market is currently undergoing a correction, but experts believe that the long-term outlook remains positive. While some coins may see losses for now (and again in the future), others like Solana and Monero are likely to give investors serious returns.
The “solana news today” is a question that has been asked many times. I will answer the question and provide a few other related questions.
Solana has gained over 15,000 percent this year, and many investors are eager to purchase the currency in anticipation of more growth.
The massive price gain is mostly due to a rise in crypto gaming and a slew of successful NFT launches. Furthermore, many developers have worked on projects on Solana throughout the years, resulting in a significant increase in demand.
On Thursday, Solana was down more than 2%, and worried investors wondering whether this is the start of a long-term selloff or a once-in-a-lifetime chance to purchase the dip.
What the Solana graph reveals
SOL is showing signs of slowing down on Thursday after a 20% increase in only two days.
On Thursday, the RSI was in the overbought zone, signaling a slight pullback.
A bearish RSI divergence is also visible, which is a strong indicator that a correction is on the way.
A regression to the 0.618 level is likely, as well as a rebound back from the $220 level.
If investors want to purchase SOL, they may do so after a reversal from $220 is apparent.
A new all-time high may be established as a goal, with a stop loss below the zone at $190.
Fundamentally, Solana is a very powerful currency, and it might be a good choice for long-term investors. However, investors should wait for SOL to drop to $220 before entering since it is now overbought.
Investors should expect the currency to surge to a new all-time high after a little retracement from present levels.
The post Is it safe to purchase Solana on Thursday after a small dip? appeared originally on Cointext.com: The Home of Altcoins: Everything You Need to Know About Crypto, Bitcoin, and Altcoins.
The “solana price prediction” is a question that has been asked for a while now. It seems like the answer to this question is yes, as it’s safe to buy Solana now.
Frequently Asked Questions
Is it good to buy Solana now?
A: Right now, I would recommend waiting for a sale as Crytek has stated that they will be making significant changes to the game soon.
Is there a limited supply of Solana?
A: Yes, there is a limited supply of Solana that was made. Theres no way to know how many were made or how many will exist in the future because its all hand-made by us! So it might not even be an issue if everyone starts using it and wants one at the same time!
Why is Solana price going up?
A: The price of Solana is going up because, in a months time, the team will be implementing new premium features that they have been designing.
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