Analyse Solana (SOL) : voici comment Bitcoin pourrait faire baisser le prix jusqu'à $100

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Solana price will likely continue its 34% drawdown, potentially halting at $100, a critical support level.
SOL shares a high correlation with Bitcoin, and the lack of recovery in BTC price could negatively influence altcoin.
Investors have seemingly lost confidence as well, given that the open interest has plunged by $1 billion in four days.

Solana (SOL) Analysis: Here’s How Bitcoin Could Drag the Price Down to 0

Solana’s (SOL) price is showing signs of bearish developments primarily owing to the broader market cues and declining interest of investors.

By the looks of it, the “Ethereum killer” will likely note a correction in the coming days that could drag SOL down to $100.

Bitcoin’s Influence on Solana

Solana’s price tends to mostly follow the broader market cues, be it the meme coin frenzy or the recent correction. As Bitcoin (BTC) crashed in the last few days, SOL did, too, and this could continue going forward.

This is due to the high correlation that the two cryptocurrencies share. After dissociation in March, the correlation between the two assets grew stronger, with the same currently standing at 0.8.

Thus, given Bitcoin is prone to further decline below the current trading price of $62,700, it could drag Solana’s price down.

Lire la suite : 11 meilleures pièces Solana Meme à surveiller en 2024

Pour aggraver la situation, les investisseurs ne sont pas optimistes quant à cet actif. Leur conviction décroissante est visible à travers la chute de l’Open Interest (OI). L'OI est passé de $2,89 milliards au cours des quatre derniers jours à $1,84 milliards.

Cette sortie de $1 milliards du marché à terme indique que les investisseurs sont non seulement sceptiques, mais également peu disposés à faire un pari haussier ou baissier.

SOL Price Prediction: Decline to $100

Si les signaux baissiers susmentionnés dictaient l'évolution des prix, le prix de Solana pourrait se corriger considérablement. S'échangeant à $132, l'altcoin prolongerait la correction de 34% constatée depuis le début du mois d'un autre 24% pour ramener SOL à $100.

Puisqu'il s'agit d'un niveau de support critique, le prix de Solana trouverait probablement un certain support à ce stade, évitant ainsi de nouvelles pertes.

Lire la suite : Prévision de prix Solana (SOL) 2024/2025/2030

A similarly strong support level is marked at $120, and if SOL manages to bounce off of it and engage in recovery, the bearish thesis would be invalidated. Consequently, Solana’s price could rally further towards $150.

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