Solana (SOL) has witnessed volatile price changes taking its price to $182.83. The altcoin has seen a steep decline, with a 17.38% drop over the last month and a 16.35% fall this week. After fluctuating in the $190-$199 bracket, the question is whether Solana can recover and eventually target the $500 threshold. Meanwhile, a new project, Remittix (RTX), is making waves in the PayFi sector with a highly successful presale.
Find out why Solana investors are flocking to the Remittix presale.
Factors Influencing Solana’s Price Movements
On January 7th, Solana touched a high of $220.93. However, it fell below $200 the next day, bringing the price down by 1.43% in 24 hours. Now experts are asking if Solana rise from its bearish phase and shoot to $500.
Currently facing resistance at $192.40, Solana needs a boost from several factors to kickstart a recovery. Positive market sentiment, improvements to its network, and increased usage in decentralized finance (DeFi) and non-fungible tokens (NFTs) could help propel Solana’s value. Moreover, greater institutional interest, such as from ETF investments, might also play a crucial role in its performance. However, these fac…
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