Left (LEFT) The price lost about 5% last week, reaching the lowest price in the last six months. Evaluating the price trend of Ethereum rival Solana, the analysis thinks that Solana can survive these price drops.
When we look at the general picture of the Solana price, we can see that it has recorded continuous decreases in the last six months. The altcoin, which reached its highest level four months ago, has lost about 69% from this level. SOL price has now tagged the lowest price level with a price tag of $79. Solana supporters think that the Ethereum killer altcoin could break a sharp downtrend and rise again to $85 levels.
analysts, Solana price They continue to argue that the selling pressure on them continues, but the bulls have managed to push the Ethereum killer to its resistance.
Despite all these price drops, altcoin continues to compete with Ethereum in Web3 games. Amio Talio, founder of UK-based Paradox Studios, stated that he believes Solana’s build language attracts more developers compared to the Ethereum network.
Talio stated that games like Star Atlas on the Solana blockchain offer users the opportunity to earn cryptocurrency by increasing their wallet balance. This makes it more lucrative compared to games on other platforms.
Analysts assessing the Solana price trend have identified a falling wedge pattern. This is considered a bullish signal for Solana and analysts think Solana price will most likely rebound.
FXStreet analysts, on the other hand, LEFT pricebelieves it is at risk of collapse. The price of the Ethereum killer altcoin could drop further as it continues to drop. Solana’s downside could be quick and severe as analysts set a target of $50 for the Ethereum killer. Solana price is heading towards the 100% Fibonacci extension or the top of the upper range of the current high volume node. Analysts have a bearish view on Solana price.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.