As the major cryptocurrencies lose value, some secondary digital assets also fall into a very complex situation. For example, over the past few days, the price of solana (SOL) has risen to increasingly low levels.
The worst is to be considered with solana (SOL)
In one day (June 16), the price of SOL fell by almost 17%. As a result, almost all of the previous day’s gains are gone. This decline leaves the SOL market at a record high total reduction of more than 90% after reaching a peak of almost $ 267 in November 2021. In addition, from the last peak in July 2021, SOL lost almost $ 25.
The sharp fall in the price of SOL has left investors and analysts skeptical about the prospects for a rise. The latest crises in the cryptocurrency market prove them right. You only need to consider the consequences generated by the fall of Terra to understand that the worst is yet to be considered.
A downtrend that will follow
The Solana downturn really started on June 16th and since then the cryptocurrency does not seem to be going up. The IS reduction in prices It started when the digital asset rubbed against the near $ 34 trend.
Experts believe that the most plausible hypothesis for SOL in the coming days is the downturn. They think the digital asset could almost 25% drop about the end of June. That said, if after this period, SOL succeeds in returning to the growth path, its price could range from $ 34 to $ 36.
Currently, solana (SOL), like some cryptocurrencies, is in a bearish period for a few days. As a result, investors have more confidence in losing the asset, especially since there is no reason to believe that it will regain value any time soon.
Source: Cointelegraph
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