Solana scende sotto il livello dei $200: opportunità di acquisto?
in the past three days Solana ($SOL) Like the rest of the market, it suffered a sharp collapse. The altcoin is down 12% on the weekly chart.
The decline was fueled by a flurry of positive U.S. economic data that stoked concerns that inflation could rebound. The situation could delay the Fed’s plans to ease monetary policy.
The U.S. Labor Department reported an unexpected increase in job openings in November, while a separate report showed a rise in services sector activity in December. Data showing strong economic growth pushed the 10-year Treasury yield to 4.699%, the highest level since April 26.
Following the news, Bitcoin fell below the $97,000 mark, Ethereum fell below $3,400, and Solana fell below the $200 mark.
Additionally, SOL has a key date approaching: the deadline to file with the U.S. Securities and Exchange Commission (SEC) for approval of its Solana spot exchange-traded fund (ETF). On January 23, the SEC will decide whether to approve or reject Grayscale’s application.
Solana’s spot ETF will be available this year, the only question is when, said Nicolai Søndergaard, an analyst at research firm Nansen.
“The real unknowns involve the number of iterations required before a proposal is approved, as is the case with Bitcoin and Ethereum. However, I firmly believe that there will definitely be a Solana ETF in 2025,” he said at a 2024 event organized by Cointelegraph.
According to betting on the Polymarket platform, the Solana spot ETF has a 74% chance of being approved in 2025.
Solana: The key support level to watch is $175
Analysts believe traders are still operating on pattern “Taking profits” Before Donald Trump’s inaugural address.
Cryptocurrency markets immediately surged following the election of a pro-crypto candidate. The market capitalization has exceeded $3 trillion, and Bitcoin ($BTC) has exceeded the psychological threshold of $100,000 for the first time.
Solana hit an all-time high of $264 on belief that the Trump administration could usher in an era of crypto-friendly regulatory policies and spur greater adoption of the asset by traditional and institutional investors.
That narrative is still in play, which is why some analysts see this drop as an opportunity.
Meanwhile, if the Solana spot ETF is approved, billions of dollars from retail and institutional investors could flow into the new fund and help push altcoins higher.
Solana’s latest move now partially reverses a bullish breakout of a flag pattern that formed over the past month and a half. The decline in the last three days has brought the altcoin back into the consolidation zone, thus eroding the bullish momentum.
Currently, the key resistance to overcome in the coming days is $225, a critical level if buyers are to regain control of the market.
However, if the selling pressure persists, the main support lies at $175. A break below this level could trigger a strong pullback, taking the asset back below the levels it reached after the election.
Such a strong reversal of the bullish trend seems unlikely given that the macroeconomic factors driving $SOL to new all-time highs continue to favor solid growth over the medium to long term.
Solaxy (SOLX), layer 2 on the Solana blockchain
Meanwhile, investors are not just focusing on Solana, but also on a new project: SOLX. This is the first layer 2 on the Solana blockchain.
Its pre-sale exceeded all expectations, raising over $9 million.
Solaxy is not only a new project in the cryptocurrency space, but also aims to solve one of Solana’s main problems: blockchain congestion. Using Layer 2 technology, Solaxy managed to improve Solana’s performance without compromising its integrity.
Transactions are processed over the Solaxy network while maintaining full compatibility with Solana, allowing the system to run smoothly even during periods of increased activity.
Additionally, Solaxy is a multi-chain solution designed to integrate and leverage the best features of Solana and Ethereum.
$SOLX tokens are also available in the feature “Upcoming Tokens” New Web3 Crypto Wallet best wallet.
