CandleFocus Solana price is falling, but shorting it is risky, crypto analyst says
2024-11-13
Author: Content Editor
The price of Solana (SOL) has dropped 7.8% from its recent high, following a similar trend to other major cryptocurrencies like Bitcoin and Ethereum. Despite the sell-off, an analyst advises against shorting SOL at current prices due to the coin breaking out of an eight-month trading range. Solana has solid fundamentals and has become a significant player in the crypto industry, particularly in the meme coin space. It has overtaken Tron to become the second-largest chain in decentralized finance and has seen a significant increase in total value locked. Solana has also dominated DEX volume, with its volume rising by 91% in the last seven days. Technical analysis suggests Solana may form a break and retest pattern, potentially leading to a rebound and retest of $250 in the near term.
Related News
MicroStrategy Stock Fuels 3-Year Convertible Bond Peak As Bitcoin Hits $93k Dogecoin Co-Founder Reveals How To Make DOGE Deflationary Tether Advocate Howard Lutnick Eyeing US Treasury Sec Job: Report 3 Key Reasons Why Ethereum Price Could Hit $4,000 by November End Dogwifhat Price Gains 40% as Conbase Announces Listing Bitget Records Landmark Trading Volume, BGB Price Jumps 22% What’s Inside the Cardano Foundation’s First Financial Report? FBI seizes Polymarket CEO’s phone following Trump election prediction Merlin Chain and Taiko Join Forces to Grow Bitcoin Liquidity and Yield Opportunities Scallop dApp Integrates Alchemy Pay for Seamless Fiat-to-Crypto Transactions 3 Warning Signs Indicating Crypto Market is Going to Crash Crypto Expert Bullish on XRP Price Rally to $30 Amid Robinhood Listing Avalanche (AVAX) Bull Run Heats Up, Analysts Expect This Benjamin Cowen Says ‘One Last Flush’ for Cardano (ADA) Against Bitcoin Likely Approaching Dogwifhat spikes 37% as Coinbase announces WIF listing Orderly Network Leverages Chainlink for Reliable Market Data CPI sets the stage for more of the same from the Fed in December ‘MemeFi’ Telegram Game Boosts Sui Airdrop Rewards Ahead of Snapshot Ethereum researchers unveil 'smart transactions' to make the World Computer a reality US gov’t points to Gary Wang’s 'outstanding cooperation’ in FTX case Bonk Price Spikes 12% Amid Binance.US Listing; Is ATH Imminent? What are crypto exchanges? A comprehensive overview L2 chains have the highest fees for the past three months as crypto market rallies Key Suspect Linked to the $230 Million WazirX Hack Arrested in India Coinbase Lists WIF Coin, Shakes Up Market Shiba Inu Community Aims High: Is $0.001 Price Target Realistic? Will TON Hold Support or Break Through Resistance? Traders Are Watching Elon Musk and Dogecoin: How the Billionaire Became the 'Dogefather' How a $115M Crypto Fund With Big Ambitions Plans to Invest In Latin America Dogwifhat (WIF) Rebounds After Brief Sub-$3 Scare — What Next Will XRP Price Breakout from 40-Month Accumulation Drive a FOMO Rally to $1.5? MoonPay Balance: Bringing Fiat Convenience to the Decentralized World REI Network Foundation Unstakes Voting Support, Begins Open Development Phase Transfero integrates Wormhole as interoperability provider Bonk Downward Drift To $0.00002635, Can Bulls Ignite A Trend Reversal? Can Dogecoin Price Reach $1 By Year End? Here’s What The Fibonacci Levels Say Bitcoin price metrics forecast rally to $100K and above — Here's why Sen. John Thune to lead the Senate as majority leader following moves to back crypto legislation What Is Pepe? The Ethereum Meme Coin Inspired by the Iconic Cartoon Frog Blockchain Analyzer 'Bubblemaps' Adds AI to Help Identify Insider-Controlled Tokens BONK Outperforms Pepe, Shiba Inu Amid Binance.US Listing Crypto firms Arca and BlockTower merge as institutional interest in digital assets spikes CHART: The growth of WBTC competitors Praxis founder Dylan Brown says he pitched politicians on building charter city in Greenland Why Bitcoin's next bullish target could be $255,000 XRP 'god candle imminent' with $2 end of the year target — Analyst NEIRO’s 18% Price Drop Prompts Long-Term Holders To Dump Tokens Solana-based MEV protocol Jito experiences downtime, temporarily driving transaction fees up Robinhood re-lists SOL at $216 one year after forcing users to sell for $16 Will the Second Crypto President Be Like the First? Price analysis 11/13: BTC, ETH, SOL, BNB, DOGE, XRP, ADA, SHIB, TON, AVAX Bitcoin May Hit $100,000 Faster Than Expected Bitcoin breaks $93,000 amid rumors that Saudi, UAE, or Qatar is buying The Truth About Bitcoin Price Models: Stock-to-Flow, Power Law, and Beyond Curve Finance launches 'Savings crvUSD' yield-bearing stablecoin ? Bitcoin overtakes Saudi Aramco by market as price hits $93k Pete Hegseth, who said Trump is 'making bitcoin great again,' nominated for Secretary of Defense Crypto-AI startup 0G Labs raises $40 million seed and receives $250 million token purchase commitment $100K Bitcoin? 9 analysts share their end-of-year BTC price predictions Bitcoin Price Eyes $100K Breakout as Miner Trends Align with Rally Bitfinex expands its offering of crypto derivatives with Thalex BTC’s Climb Lifts Miner Revenue, Restoring Hashprice to June Levels Binance Report Highlights Rise of AI-Powered Crypto Apps and the Success of AI-Backed Meme Coins Over $1 billion inflows into Pnut in a day; Should you follow suit? Will Dogwifhat Price Hit ATH This Week? Kraken Strategist Predicts Bitcoin Demand Could Double in 2025 Amid Growing Institutional Interest BNB Price Gear Up for Multi-Year Breakout; Is $2,000 Next? 550 Million Dogecoin (DOGE) in 20 Minutes, Something Is Brewing U.S. Senator Elizabeth Warren Rises Into Role Where Crypto Sector Won't Shake Her Chainlink Whales Accumulate $165 Million Worth of LINK, Suggesting Potential Bullish Trends GRASS Token’s Price Drops 27% Amidst Increased Selling Pressure I Bought Bitcoin Today – And Felt Nothing Bitcoin Surges to New Record Over $93K as Strong U.S. Demand Crushes Resistance Level Crypto legislation likely coming under Trump, ex-SEC chief says Elon Musk Speaks About Dogecoin (DOGE) After A Long Time – BTC Price Reacts The Real Winner of the 2024 Elections: The Crypto Industry Beating Bitcoin Glassnode Report: Bitcoin Primed for Extended Growth Phase Past $89,900 ATH Billionaire Mike Novogratz Makes a Crazy Bitcoin Price Prediction: “If the US Really Keeps BTC as a Reserve Asset…” Satoshi Nakamoto's Groundbreaking BTC Vision Resonates After 16 Years Bitcoin Gained 40.74% in Last Month and is Predicted to Reach $ 96,695 By Nov 18, 2024 Here’s why Bonk and Happy Cat prices have gone parabolic Companies in China Line Up for Bitcoin (BTC)! Another Giant Company Announces It Will Start Accepting Bitcoin Payments! Major Week for ADA: Cardano's Chang Hardfork Delivers Two Key Updates Bitcoin is now exactly half the size of Nvidia in market value – What’s happening? Top Crypto Trader Issues Very Controversial XRP Price Outlook Coinbase Acquires Utopia Labs to Accelerate On-Chain Payments Innovation Binance Exchange Reserves Hit Record 25% as Top-Tier Exchanges Dominate Market Is LUNC Price Ready for Another Major Takeoff Amid Token Burns? Bitwise Executive: Until Bitcoin Hits $500K, It’s “Still Early” BlackRock's Bitcoin ETF Hits Another Major Milestone BTC Price Explodes to $92K Despite Bitcoin Miners Reportedly Taking Profit The crypto boom of the decade? Bitcoin soars amid a perfect storm of global change — here’s what’s driving it ? Pepe Coin Price Skyrockets 50% as Coinbase Confirms Listing! ? Bitcoin Officially Breaks $91,000 Peak Amid CPI Data Release Bulgarian 'Cryptoqueen' Alive, Hiding in South Africa: Report Deutsche Bank Acknowledges Crypto's Leading Role in Ensuring BRICS' Payment Capabilities VanEck introduces SUI ETN to European investors as token hits all-time high XRP price retreats after reaching 8-month high—here’s the catch Analysis of the crypto DOT, ACT, and ADA SEC greenlights Coincheck to be the first Japanese crypto exchange on Nasdaq Hut 8 beats Q3 revenue expectations, increases revenue to $43.7m Bitcoin Whale Continues Accumulation Amid Market Slump, Extracts $51.59M You Can Play Games Like 'Doom' on Bitcoin and Dogecoin—Here’s What That Means 'Fableborne' Jumps From Avalanche to Ethereum Gaming Network Ronin—Here’s Why Ethereum (ETH) Has Never Outperformed XRP Since 2021: Here's Why Solana price is falling, but shorting it is risky, crypto analyst says Bitcoin at $100k very possible before EOY, analysts say Bitcoin Price Analysis: Will BTC Rally to $100K or Correct Below $80K First? Peanut (PNUT) Price Prediction for This Week BlackRock Expands Tokenized Fund BUIDL Beyond Ethereum to Five New Blockchains Zero Gravity Labs Raises $40M for Decentralized AI Operating System Bitcoin Breaks $90,000 – Bullish Surge Seems Unstopable Copper to Offer Custody Services for Tokenized Money Market Funds Such as BlackRock's BUIDL Why Metaplanet Is the Next MicroStrategy With BTC Yield of 155%? Shiba Inu Price Tumbles 18% Amidst Crypto Market Downturn JUST IN! Robinhood Relists Three Altcoins Including XRP! Shiba Inu (SHIB) Burn Rate Slumps, But There's a Catch Andrew Tate’s crypto ‘Daddy Tate’ crashes over 60% since launch BREAKING! US Inflation Data Released! What Was Bitcoin's (BTC) First Reaction? Sui price steady as DEX volume surges: could it hit $5? Why These Altcoins Are Trending Today — November 13 Fifth Wave Could Propel XRP by 3,536% to $20, Says Chartered Market Technician Litecoin Launches Wrapped LTC Tokens on Ethereum Network Will SUI Overtake Solana Before the End of the 2025 Altcoin Season? Tether (USDT) new record: the market cap surpasses $125 billion This Bitcoin mining stock just rocketed 300% in a day Flare and Red Date Launch Privacy-First KYC for Hong Kong PayPal USD Stablecoin Now Uses LayerZero to Streamline Transfers Between Ethereum and Solana Will Shiba Inu Price Repeat Its 2021 Rally to Reach $0.0001? SHIB Price Prediction for November 13 Popular Market Maker DWF Labs Invested in This Altcoin, Price Increased Over 100 Percent! DOGE Price Prediction for November 13 Trump sells DOGE shirts after Musk appointment, Dogecoin rally Ethereum Trader Sees Huge $3.08M Liquidation in $ETH Trade Altcoin Volatility: FET, JASMY, WLD Experience Double-Digit Drops – Time to Buy? 525 Million DOGE in 20 Hours – What's Happening? Ex-Binance CZ and Vitalik Buterin’s Unscheduled Meeting Excites Crypto Community Ethereum supply shrinks, showing signs of an imminent rally as more ETH gets burned Coinbase’s cbBTC Launches on Solana DeFi, Targeting Bitcoin Gap Left by FTX Ether ETFs in the Black for the First Time After 5 Days of Inflows Is XRP Ready to Set a New Yearly High Above $1 After Breaking Out? SOL price prediction as Solana surpasses Ethereum in ‘real economic value’ Altcoin Season Index Climbs to 39, Confirming Bitcoin Season Dominance Bitcoin Eyes $104K as MVRV Signals Room for Growth Crypto Fear & Greed Index Hits 84, Signaling “Extreme Greed” as Market Sentiment Soars Binance and CoinW listing send Peanut the Squirrel (PNUT) into top 100 cryptocurrencies AI sets date when Dogecoin will hit $0.5 Cardano Foundation Spent $23.7M in 2023: Financial Insights Report Why Ethereum Is Falling Short of Bitcoin and Solana’s Explosive Growth in This Bull Season XRP Makes First Step Toward Biggest Breakout in Price History Boros by Pendle: A New Era in Yield Trading Across Finance Binance Research Uncovers Explosive Rise of AI Crypto Agents: GOAT Token Soars 743% Sui Price Eyes 50% As Network Volume Soars Past $28B Tezos Co-Founder: U.S. ‘Consecration’ of Crypto Means Less Regulatory Ambiguity Elliott Wave Insights Hints Cardano Price Wave 3 Breakout to $40 Top Dogecoin Wallet To Launch 'DogeOS', DOGE to the Moon? Thai authorities bust Bitcoin mining rigs, charges two over $280k theft: report Top Stablecoins Hold Strong: USDT, USDC, and More Anchor a $184.55B Market NH Nonghyup Bank Partners with Partior to Enhance Blockchain-Powered International Transfers Binance to List Sui-Based Meme Coin HIPPO, Price Skyrockets By 90% Trump Supports Bitcoin, But Did He Buy BTC? Famous CEO Reveals the Truth! Will BONK Break $0.00003483 Resistance for a New All-Time High? Crypto wants Trump to replace Jerome Powell with a pro-stimulus Fed chair Shiba Inu (SHIB) Shows Perfect Elliott Wave Pattern: Here's What It Means Strategic $ETH Purchase by Smart Money Investor Generates Millions in Profit Bitcoin: according to the AI, its value will not rise Monster insider trading alert for Robinhood stock What Is Sui Network (SUI): The Ultimate Guide in 2024 The latest report by Gemini on crypto investors in the United Kingdom Market Expert Predicts $100M Bitcoin as US Dollar Will Eventually Reprice to Satoshi AGLD soars 288% after Upbit launched 12 new crypto tokens on Nov. 13 The UK has to get its crypto house in order | Opinion FET 18% Decline Lands It Among Top Losers in the Top 100 Cryptos Rare Indicator Hints $1 Dogecoin Price Is Inevitable In November? Vitalik Buterin Outlines Plans To Improve The Ethereum Network Near Breaking Bullish Pennant: Can NEAR Price Hit $10? Dogecoin Craze Grips Korea, Fuels Price Premium on Local Giants Upbit and Bithumb Crypto use more common among US underbanked, FDIC report says Bitcoin profit-taking remains ‘below historical peaks’ amid $90K high Big Tech can’t own AI’s future if we decentralize it first Ethereum Price Hits $3,450 Wall: Can It Power Through? Bitcoin Price Pauses at $90K: Is This a Breather Before the Next Move? XRP Price Gains Speed: Could The Surge Reach $0.80? Ethereum researcher unveils ‘time machine’ for even smarter smart contracts Polymarket Faces Significant Post-Election Lull in Trading Volume, User Activity ETF investors lack interest in crypto, report finds? Cathie Wood, John Deaton Anticipate Policy Shifts Driving Crypto Industry Growth Trump’s Team in Talks With Crypto Leaders About Regulatory Adjustments: Report Shibarium Crosses 500 Mln Transaction Milestone, SHIB Price Reacts South Korea tests digital vouchers, blockchain for item recovery Solana Price Prediction: SOL Hits $225, Is a New High Ahead? Day traders riding the Musk effect in election aftermath DOJ Seeks Seizure of $16 Million in FTX-Linked Crypto Following Year-Long Probe Bitcoin Price: Willy Woo Reveals Next Target for BTC After $100K! Anthony Pompliano Reveals Donald Trump's Bitcoin Secret Top Analyst Says Dogecoin Ascending Price Channel Can Take Doge to $18 $1 Million Bitcoin: Arthur Hayes Predicts Historic BTC Surge Amid Policy Changes Here Is What Aptos (APT) Needs To Rise Back To $17 Solana’s Value Stuck in Fourth Gear as Network Growth Races Ahead of Ethereum Trump confirms ‘DOGE’ efficiency dept. will be led by Musk and Ramaswamy as Dogecoin’s market cap swells Trump confirms ‘DOGE’ efficiency dept. will be led by Musk and Ramaswamy as Dogecoin’s market cap swells ‘Just Don’t Break’ Bitcoin: Devs Debate Tech Upgrades to Top Crypto PEPE Price Targets Its Highest Level Since May 2024 Whale Investment in $ACT Yields Millions After Binance Listing XRP Reversal Can End Here, Bitcoin (BTC) Sets Sights on $200,000, Dogecoin (DOGE) Skyrockets by $30 Billion in 7 Days US Seeks to Seize Crypto Account Linked to Sam Bankman-Fried’s China Bribe Golden age is coming: Over 250 pro-crypto candidates enter Congress PayPal USD begins using LayerZero to enable transfers between Ethereum and Solana $1.3 Billion USDT Hits Exchanges, Fueling Crypto Market Speculation Binance records $7 billion weekly inflows as Bitcoin surge attract investors What Will Happen in the Bitcoin Price in the Next Period? Experts Shared Their Opinions