Latest Update Solana Price Analysis: What to Expect in 2024?

Bittime - Discover the evolution of Solana (SOL) price from its peak in March to its recovery after a drastic drop in May. The latest analysis reflects market uncertainty with SOL trading around $159.27 today, while potential technical waves provide further insight into possible future price movements.

Solana Price Development in Previous Months

After peaking on March 18 at $210, Solana plummeted to $120 on May 1, marking a 43% drop. However, SOL quickly recovered, reaching $190 on May 21, surpassing the previous support level that served as a barrier. 

Two scenarios may become clear on June 24. According to technical analysis, the fourth wave was formed when SOL consolidated below $157, and in the fifth wave it could fall further to around $102. The increasing utility and demand for SOL, driven by USDC integration, could benefit the token price. Demand for SOL can increase, as well as increasing the price of the token.

Latest Update Solana Price Analysis

Considering the dynamic price changes in the cryptocurrency market, Solana (SOL) is trading today at around US$159.27. With low fees and high transaction speeds, Solana has become one of the leading blockchain platforms. Applications and projects built on SOL show its performance, which makes it one of the attractive assets in the crypto ecosystem today. Current price movements indicate general market uncertainty.

Conclusion

In recent months, the price of SOL (SOL) has changed. After peaking at $210 on March 18, SOL experienced a significant decline to reach $120 on May 1, representing a decline of 43%. However, SOL quickly recovered, reaching $190 again on May 21, surpassing the previous support level.

Technical analysis released on June 24 shows that SOL is in the process of forming a fourth wave, consolidating below $157. In the fifth wave, SOL may fall further to around $102. But improvements in SOL's utility and demand, especially through USDC integration, could help the price of this token.

Demonstrating the general uncertainty in the cryptocurrency market currently, SOL is trading around $159.27 today. Solana continues to attract interest as a premier blockchain platform for various applications and projects due to its fast blockchain performance and low transaction fees.

Overall, Solana remains an attractive asset in the crypto ecosystem, as demonstrated by ongoing market dynamics and growth opportunities due to increased use and adoption.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.