Despite assuming the position of being the most staked crypto asset, the Solana price prediction is for the crypto to continue the correction before new demand comes into the crypto market’s most capitalized assets.
Data from Staking Rewards indicates that users have staked close to $84billion worth of Solana as of 23 November, putting it into pole position as the preferred crypto asset for users wishing to earn money from staking their assets. However, this has not stopped the correction on the SOL/USDT pair from its recent highs at 259.90.
With the price falling 7.00% on the day as of writing, the Solana price predictions in the near term tilt towards the bearish end as the correction plays out.
The 197.52 support appears to be the next target for the bears if the current correction continues. Below this level, 186.61 and 168.46 are additional targets to the south.
On the other hand, buyers would be looking for dip-buying opportunities at any of the support levels mentioned. The recovery would need to take out the barriers at 219.21 and 234.76 to bring the all-time high back into focus. Only when this all-time high at the 259.90 mark (141.4% Fibonacci extension level) is breached will the uptrend continue into record territory.
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This post was last modified on Nov 24, 2021, 18:32 GMT 18:32