Analyst Says SOL May Plummet 40% As This New GameFi Coin Project Surges Past $6.5 Million

Solana’s value dropped by 3% within the final 24 hours to commerce at $96.96 as of 5 AM EST, whereas buying and selling quantity slumped 20% to $3.27 billion.

Analyst Pentoshi, with greater than 738k followers on X, warns in a current submit that SOL may plunge as a lot as 40% within the coming months.

$SOL replace #1

Unsure we get as little as I’ve right here, however do anticipate sooner or later to have the ability to bid within the $70’s

Trying ahead to not simply buying and selling sol, however holding some eco-system cash for the following 12 months or so. https://t.co/ethYBkZQSs pic.twitter.com/80Wu05Sl18

— Pentoshi 🐧 euroPeng 🇪🇺 (@Pentosh1) January 7, 2024

His prediction was accompanied by an identical forecast by Altcoin Sherpa, who mentioned that SOL is prone to dip to Fibonacci retracement ranges 0.382 at $84.50, or 0.50 at $71.67.

In different phrases, SOL’s present struggles with staying above the $100 mark are solely the start, and the coin is ready to see a extreme correction within the coming months.

Solana Value Prognosis

Whereas some consultants anticipate SOL to see a big value drop shortly, others imagine the coin would possibly rise after recognizing the bullish flag sample on the undertaking’s chart.

The sample could be seen on the chart under, and whereas this alone doesn’t assure an upcoming surge, there have been different indicators that SOL would possibly but see its value improve.

For instance, the coin’s Bollinger bands are nonetheless pretty large, particularly in comparison with the primary half of December 2023, which is bullish. The coin’s Relative Energy Index (RSI) rating additionally provides merchants causes to be optimistic.

At the moment, it’s in impartial territory with a rating of 49.36. It was within the overbought territory in late December, adopted by a drop to the oversold space. Now, it has recovered into the impartial zone, and merchants are ready to see the way it will go.

Ought to the Solana value get better in days to return, it’s going to probably hit its first appreciable resistance at $100, which is extra psychological.

After that, the coin will encounter one other degree at $104 and the following at $108. On this state of affairs, SOL may have returned to its highest level in 2024.

Nonetheless, its month-to-month and yearly excessive remains to be a lot increased, at $123.76. If the bull flag sample holds, SOL would possibly get better to this degree and transcend it earlier than getting hit by a bearish wave that can return its value to the $70s vary.

Promising Various To Solana

Meme Kombat (MK) is at the moment among the finest options to Solana because it gives a meme coin coupled with a model new, revolutionary gaming platform that’s already quickly attracting customers and buyers alike.

Meme Kombat is a brand new undertaking, at the moment nonetheless in resale, but additionally one which has achieved large recognition, even throughout the present, unsure market.

The undertaking’s presale has already raised over $6.55 million, with its token, MK, priced at solely $0.279. The token is accessible in change for ETH or USDT.

We’re unbelievably near reaching $6.5 million raised within the $MK presale the place we will likely be gifting away 25,000 USDT🤩⚔️

Final push. Let’s go! pic.twitter.com/93vMu2jaRY

— Meme Kombat (@Meme_Kombat) January 9, 2024

The rationale why it’s wanted has to do with the undertaking’s new gaming platform, designed for meme and gaming fans alike.

On it, customers can have interaction in energetic betting or passive staking, relying on the quantity of threat they’re taken with taking. Nonetheless, no matter their chosen method, the platform rewards all customers. Buyers may even earn APY throughout presale with out ready for battles to start.

As one of many best presales of 2023/24, analyst Jacob Bury says Meme Kombat might 10X on launch.

In case you are , get hold of the token now earlier than it sells out. You should buy MK right here.

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