{"id":61044,"date":"2023-09-14T16:49:56","date_gmt":"2023-09-14T20:49:56","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/solana-price-prediction-as-sol-bounces-4-overnight-is-the-sell-off-over\/"},"modified":"2023-09-14T16:49:59","modified_gmt":"2023-09-14T20:49:59","slug":"solana-price-prediction-as-sol-bounces-4-overnight-is-the-sell-off-over","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=61044","title":{"rendered":"Solana Price Prediction as SOL Bounces 4% Overnight \u2013 Is the Sell-Off Over?"},"content":{"rendered":"
\n

Despite ongoing concerns about FTX\u2019s planned liquidation of over $1 billion in Solana (SOL) tokens, which amount to roughly 16% of the cryptocurrency\u2019s overall token supply, SOL has mustered a rally of more than 3% on Thursday.<\/p>\n

Solana, the token that powers the layer-1 smart-contract-enabled Solana blockchain, was last trading around $19 per token, nearly 10% up from earlier weekly lows in the mid-$17s.<\/p>\n

A judge approved bankrupt crypto exchange FTX\u2019s request to liquidate its $3.4 billion in digital asset holdings earlier this week.<\/p>\n

While panic about the mass liquidation of SOL tokens weighed heavily on the price recently, cooler heads appear to be prevailing, with Solana now up nearly 4% for the week.<\/p>\n

That\u2019s because FTX won\u2019t be able to unload all of its Solana tokens onto the market in a massive dump that could cause a huge price crash.<\/p>\n

Rather, the bulk of FTX\u2019s Solana tokens are vested until as late as 2028.<\/p>\n

Price Prediction – Is the Solana (SOL) Sell-Off Over?<\/strong><\/h2>\n

In light of the near 10% rally from earlier weekly lows, traders are asking whether the Solana sell-off might now be over.<\/p>\n

Solana has been in a downtrend since hitting highs for the year back in July above $31 per token.<\/p>\n

Since mid-August, SOL\u2019s price has been capped by a downtrend and the 21DMA.<\/p>\n

If the cryptocurrency is able to break to the north of these resistance levels, the door would be opened for a retest of the 100 and 200DMAs around $21 and a key medium-term zone of support-turned-resistance around $22.0.<\/p>\n

That could mean that, in the short-term at least, the sell-off might be over.<\/p>\n

Alternatives to Consider<\/strong><\/h2>\n

It\u2019s always smart for crypto investors to hedge their bets, given the unpredictability of the market.<\/p>\n

One excellent XRP (XRP) alternative that crypto investors should consider is a new coin being launched by\u00a0Wall Street Memes, one of the internet’s largest retail investing communities.<\/p>\n

Wall Street Memes, with its over 1 million following across various social media channels, has traditionally described itself as \u201cthe king of stonks\u201d (stocks for the uninitiated), but is also looking to claim the crown of being \u201cthe king of crypto\u201d, with the launch of its very own meme coin token $WSM.<\/p>\n

The presale of $WSM has been a resounding success, with over $25 million raised, and dozens of major crypto industry influencers and analysts backing the coin for major success.<\/p>\n

And investors are running out of time to get involved, with the presale scheduled to end in under 14 days.<\/p>\n

Get in now on a token that could match or even surpass the likes of Pepe Coin, Dogecoin and Shiba Inu.<\/p>\n

Buy $WSM Here<\/p>\n

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/sup><\/i><\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite ongoing concerns about FTX\u2019s planned liquidation of over $1 billion in Solana (SOL) tokens, which amount to roughly 16% of the cryptocurrency\u2019s overall token supply, SOL has mustered a rally of more than 3% on Thursday. Solana, the token that powers the layer-1 smart-contract-enabled Solana blockchain, was last trading around $19 per token, nearly […]<\/p>\n","protected":false},"author":1,"featured_media":61045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-61044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nSolana Price Prediction as SOL Bounces 4% Overnight \u2013 Is the Sell-Off Over? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Despite ongoing concerns about FTX\u2019s planned liquidation of over $1 billion in Solana (SOL) tokens, which amount to roughly 16% of the cryptocurrency\u2019s\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=61044\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana Price Prediction as SOL Bounces 4% Overnight \u2013 Is the Sell-Off Over? 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