📈 As XRP surpasses the $108 billion cap of SOL, Solana's market position is declining

The price of Solana (SOL) in USD has recently experienced significant Fluctuation, reaching an All-time high (ATH) of $264 at one point, followed by a sharp pullback. This pullback has raised concerns about potential corrections.
However, supported by sustained network activity and bullish market sentiment, SOL holders remain optimistic about the rise prospects of Crypto Assets.

🤝Solana investors are very active
Although there has been a recent decline, the number of active addresses on Solana has not decreased significantly. The high level of engagement indicates that investors' demand remains strong and optimistic, which further confirms that Cryptocurrency is still closely followed by the market. This sustained level of engagement is a positive indicator for Solana's future PA.
Investor activity on the Solana network highlights the resilience of its user base. Despite market downturns, ongoing network participation helps maintain price momentum. This sustained activity indicates that recent price fluctuations of SOL have not deterred investors, keeping the rise trajectory of AltCoins.

⚡️From a technical perspective, Solana's relative strength index (RSI) remains above the neutral line of 50.0, indicating resilience despite the recent bearish trend. Staying above this level indicates a strong bullish momentum. As long as the RSI remains above neutral, there is a possibility of continued pump.
However, if the RSI falls below 50.0, the bearish momentum may intensify, potentially causing a decrease in the price of Solana. This threshold is a key indicator for traders to monitor the macro momentum of SOL. Maintaining this balance is crucial for Solana to continue pumping in the short term.

🌊SOL Price Prediction: Preventing Correction
Solana's current stock price is $228, which has recently declined because AltCoin has been surpassed by XRP, losing its position as the fourth largest Crypto Asset. However, it still remains above the key support level of $221.
From a historical perspective, this price level has always been an important support and resistance, highlighting its significance. As long as SOL stays above this threshold, the bullish outlook for Crypto Assets remains unchanged.

☀️ It is unlikely that the possibility of breaking the support level of $221 is low, but if this happens, SOL could be pushed to $201. Breaking this level could mean greater losses, challenge investor confidence, and trigger a more widespread market adjustment for AltCoins.
If Solana successfully rebounds from the support level of $221, it may aim for the resistance level of $245. Breaking through this resistance level would invalidate the bearish outlook and could push AltCoin back to the high of $264. This move would reaffirm Solana's strength as one of the leading cryptocurrencies in the market.
(tv-Beincrypto)