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In the crypto arena’s ongoing decimation, Solana defied the norm by dipping just 0.59% over the past 24 hours. As the total crypto market capitalization hovers around the $1 trillion mark, Solana’s current valuation is $21.7. Could we see Solana diving to $10? How low will Solana price reach?
A multitude of macro variables often sway the pricing of cryptocurrencies. But the recent news about Elon Musk’s firms selling off a significant portion of their Bitcoin stash has deepened the existing market slide. This major move by an influential entity has added to the already prevalent market apprehensions.
While most cryptos faced severe hits, Solana’s price landed at $21.7, denoting a 24-hour decrease of 0.59%. Its 7-day performance saw an 11.33% drop. This widespread crypto recession disrupted Solana’s anticipated bullish momentum.
To deduce potential low-water marks, it’s pivotal to identify ensuing support zones. For Solana:
Given the overarching crypto downturn, prognosticating Solana’s recovery remains speculative. A bounce-back is contingent on fostering a positive crypto market vibe, enticing investors to re-enter. Post-crash, such favorable conditions often emerge within a few days.
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