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Why did Solana Price fall by over 65% in the Last 30 Days?

Why did Solana Price fall by over 65% in the Last 30 Days?

Key Takeaways:

Solana Price Analysis 

Additional Read: Solana Price Prediction

Solana (SOL) On-Chain Analysis

Source: Santiment

Source: Sentiment

Source: Sentiment


Solana Price Prediction 

Solana’s price led a massive bull rally in 2021 that surged by more than 1000% to reach highs above $250 from lows around $20. However, the token regain a significant bullish momentum as it reclaimed the levels above $100 after a brief correction in Q1 2022. Meanwhile, a couple of massive market crashes after May 2022 led the price to crash heavily by nearly 95% at the moment. 

The trade is approaching the end of 2022 trade, the volatility is expected to rise a little, while the direction of the price currently remains uncertain. Considering the above price variations and the observations, the resurgence of bears appears to be likely and hence the prices could be driven lower in the coming days. If the SOL price closes the 2022 year with a single-digit value, then the recovery may not knock in any time shortly.

The SOL price may gain some momentum in 2023 but may certainly not regain a firm bull run in the coming years. Until the bulls, who have either exited the platform or continue to remain calm, the Solana price is expected to consolidate within the same narrow ranges. 


The Solana price may not gather wider attention and adoption as numerous negative rounds revolve around the token. If the SOL price shares the same fate as LUNA or LUNC or FTT, recovery may be prolonged for years. Besides, a bullish bounce may invalidate the bearish thesis, but it appears unlikely shortly.

Hence, the SOL price continues to remain within deep waters regardless of the market trend in the coming days. As the platform is speculated to remain uncertain for a long, the market participants and the whales could remain aloof until the token displays some strength. Therefore, the Solana price prediction continues to remain bearish for a long.

Read more: FTX Price Prediction

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