Crypto analyst predicts a 30% downfall in the trade price of Solana (Sol)
Crypto analysts predicted a possibility where Sol coin may fluctuate around the trade price of $75 for the long term.
Solana (Sol) is a popular cryptocurrency which is known for its ability to process high amounts of transactions easily. This year Solana showed a very big rally in the trade price, thanks to the hard work that Solana community developers did for Solana to fight against the challenges that the Solana network faced in between Q4 2021 to Q4 2022.
In the last month, Sol coin surged nearly 80% and hit a $100+ trade price easily but after that people started speculating that it is going to face a downfall. Despite negative speculations around Solana, the trade price of Solana showed strong stability.
The current trade price of Sol coin is $104 & this trade price is 1.3% down over the last 24 hours price. The all-time high of the Sol coin trade price is $246 & in the present situation people are not expecting more upside of investment in this coin but still, some retail investors are holding their Sol coin tightly with the hope to see last all time high of this token.
By addressing these sentiments around Solana, a popular Crypto analyst Michael Van De Poppe shared his prediction and noted that Sol coin already surged nearly 500% in the last 60 days.
According to this crypto analyst, the positive sentiments around Solana are now shifting toward Ethereum (ETH) and probably it was the final phase of the maximum pump in the Sol coin price.
In short, Sol coin is now not a better option to invest money amid this crypto bull phase. Alternatively, we can say that it is better to invest in Ethereum (ETH), instead of Solana.
Here people need to understand that it is only an analysis by a crypto expert and it doesn’t mean that Sol coin will surely follow the predicted pattern, so be careful before considering this analysis as an investment advice.
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