Solana (Sol) has faced a major price adjustment in the last month and a half. The asset reached an all-time high of $293.31 on January 19th this year. Since its January high, Sol’s prices have fallen 57.5%.
Solana continues to suffer while the market recovers
The cryptocurrency market appears to be recovering from recent revisions. Bitcoin (BTC) has recovered a price level of $83,000. Global crypto market capitalization has risen to $2.8 trillion. Despite a slight market recovery, Sol continues to soak. This asset is down 0.1% on daily charts, 16.2% on weekly charts, 11.8% on 14-day charts, 39.2% on monthly charts, and 17.5% since March 2024.
The market recovery could be due to positive US inflation news. Inflation rose 0.8%, but growth slowed. This development may have resulted in increased investor sentiment. Meanwhile, Sol does not see the same growth as other assets.
Do I need to buy a dip?
Solana (Sol) has been one of the most performant cryptocurrencies in recent months. The performance of the assets has been hit hard over the past few weeks. Sol’s price hit after a breach of Libra coins. A low price could prove to be a good entry point for new investors.
According to Concodex, Sol will continue in its downward trajectory until next month. The platform expects assets to immerse in $119.71 on April 18th. Sol’s price drops by 3.75% if you slide to $119.71.
Buying a DIP is a lot of recommended practice, but if Cincodex predictions come true, it may not be rewarded for Sol. It is also possible that Sol’s prices will gain traction in the coming weeks.
(TagStoTRASSLATE)SOL(T)SOLANA
