Solana (Sol) has faced a sudden price correction over the past few days following market-wide DIP. According to Coingecko, Sol’s prices fell 4% in the last 24 hours, 11% last week and 3.7% on the 14-day chart. Sol maintains several profits on its monthly and annual charts, attracting 3.9% and 43.8% respectively. Solana (SOL) faces the risk of falling below $200. Let’s discuss whether your assets can recover quickly.
Will Solana fall below $200?
Solana (Sol) was last traded in early September, falling below $200. If you fall into this price range, you will wipe out all profits made this month. Sol climbed to a high of $251 on September 18th, but has been gradually decreasing ever since.
Solana (Sol) receives some support at a price level of $210. The price of an asset may be integrated around the current level if liquidation slows. For Sol’s prices, additional volatility is a hassle.
Bitcoin (BTC) appears to hold it in the $112,000 price range. BTC is the market leader, and Solana (SOL) is likely to follow the trajectory of BTC. BTC stabilization could mean that SOL follows a similar pattern.
According to Concodex, Solana (SOL) is not yet below $200. The platform predicts that SOL will immerse in around $208 before it recovers. Cincodex analysts expect the asset to reach $235.77 on December 3rd.
It could also make Solana (SOL) much higher than $235.77. It is highly likely that the Federal Reserve will roll out an additional 25 basis points of interest rate reduction in October. Another decline in interest rates could lead to a surge in risky investments. Such developments could lead to Solana (Sol) seeing an increase in flow, leading to a large price rallies.
