{"id":298633,"date":"2024-05-09T18:05:12","date_gmt":"2024-05-09T12:35:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/is-120-mark-possible-as-bears-gain-market-dominance-again-crypto-news\/"},"modified":"2024-05-09T18:12:00","modified_gmt":"2024-05-09T12:42:00","slug":"is-120-mark-possible-as-bears-gain-market-dominance-again-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/is-120-mark-possible-as-bears-gain-market-dominance-again-crypto-news\/","title":{"rendered":"Is $120 Mark Possible as Bears Gain Market Dominance Again? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Solana price forecast: SOL has seen a notable decrease, breaking below the $150 resistance barrier. This decrease marks a 3% drop in <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/solana\/\"><span style=\"font-weight: 400;\">Solana price <\/span><\/a><span style=\"font-weight: 400;\">over the past day, settling at $141.97. Currently, Solana market capitalization stands at approximately $63.6 billion, positioning it as the fifth-largest cryptocurrency by market cap.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Trading activity has surged alongside this price change, with a 24-hour trading volume of approximately $2.23 billion, marking an 11.17% increase. This volume represents about 3.48% of the total market cap, indicating active trading.\u00a0<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h2><span style=\"font-weight: 400;\">Solana Price Forecast: SOL\u2019s Recovery from Recent Losses Possible?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Over the past week, Solana has experienced a 7% increase, showing signs of resilience. This recent upward trend contrasts with its substantial 18% drop over the past few months. The cryptocurrency had previously fallen below the critical support level of $175, signaling a bearish phase.\u00a0<\/span><\/p>\n<figure id=\"attachment_196045\" aria-describedby=\"caption-attachment-196045\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-196045\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/SOLUSD_2024-05-09_14-18-49-e1715253580609.png\" alt=\"Solana Price Forecast: Is $120 Mark Possible as Bears Gain Market Dominance Again?\" width=\"1200\" height=\"617\"\/><\/noscript><figcaption id=\"caption-attachment-196045\" class=\"wp-caption-text\">Solana Price Forecast<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Currently, the price fluctuates between $130 and $157. Both bulls and bears are actively contending, with neither side establishing clear dominance in the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Over the past 24 hours, most of the cryptocurrencies have seen slight market corrections, with <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> and Ethereum seeing decreases of around 2% and 1%, respectively. This pullback reflects broader concerns about regulatory developments and investor sentiment in the digital asset space.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Impact of FTX Debacle on Solana<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">According to CoinGlass, Solana\u2019s value has declined 5% in just one day due to ongoing concerns about potential sell-offs linked to FTX. Market analysts indicate that $125 million could be at risk should Solana recover as it has in previous instances.\u00a0<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">This recent price drop coincides with a significant 40% reduction in Solana\u2019s open interest. The total open interest now stands at $1.78 billion as of May 9, a decrease from higher levels seen 30 days ago.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If bears mount more pressure, the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price-predictions\/solana-sol-price-prediction\/\"><span style=\"font-weight: 400;\">Solana<\/span><\/a><span style=\"font-weight: 400;\"> price could hit a support level of $130. If this level fails to hold, a further decline toward $120 could be imminent, signaling increased bearish sentiment in the market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, if bulls regain control and propel a recovery, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/blog\/solana-price-will-sol-price-hit-200-soon\/\"><span style=\"font-weight: 400;\">SOL<\/span><\/a><span style=\"font-weight: 400;\"> could approach the $160 resistance. A sustained move above this could signal a bullish trend, possibly elevating the cryptocurrency towards $180. Stability at this level might pave the way for an advance to the $200 zone.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">The technical indicator of Solana\u2019s price movement shows a period of fluctuating performance. The Moving Average Convergence Divergence (MACD) shows a slight narrowing between the MACD line and the signal line, suggesting a possible decrease in bearish momentum.\u00a0<\/span><\/p>\n<figure id=\"attachment_196042\" aria-describedby=\"caption-attachment-196042\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-196042\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Solana Price Forecast: Is $120 Mark Possible as Bears Gain Market Dominance Again?\" width=\"1200\" height=\"617\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/SOLUSD_2024-05-09_13-41-44-e1715252783422.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-196042\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/05\/SOLUSD_2024-05-09_13-41-44-e1715252783422.png\" alt=\"Solana Price Forecast: Is $120 Mark Possible as Bears Gain Market Dominance Again?\" width=\"1200\" height=\"617\"\/><\/noscript><figcaption id=\"caption-attachment-196042\" class=\"wp-caption-text\">Solana Price Forecast<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, the MACD histogram remains below the baseline, indicating that the market could still be favoring the bears slightly.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Relative Strength Index (RSI) stands at 45.80. This value indicates that Solana is neither overbought nor oversold, providing a neutral signal to traders. Additionally, the Chaikin Money Flow (CMF) indicator sits close to zero at 0.04.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p class=\"m-0\">Related Articles<\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/solana-price-forecast-will-the-bearish-market-dominance-plunge-sol-to-120-this-week\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/markets\/solana-price-forecast-will-the-bearish-market-dominance-plunge-sol-to-120-this-week\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA196039\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/452042cc86ff4d4cff7e64f282bd5358?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/452042cc86ff4d4cff7e64f282bd5358?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/452042cc86ff4d4cff7e64f282bd5358?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/452042cc86ff4d4cff7e64f282bd5358?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD196039\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. 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below the $150 resistance barrier. This decrease marks a 3% drop in Solana price over the past day, settling at $141.97. Currently, Solana market capitalization stands at approximately $63.6 billion, positioning it as the fifth-largest cryptocurrency by market cap. Trading activity has surged alongside this [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":295814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-298633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/298633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=298633"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/298633\/revisions"}],"predecessor-version":[{"id":298637,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/298633\/revisions\/298637"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/295814"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=298633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=298633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=298633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}