Despite facing recent challenges in the cryptocurrency market in May and June, Solana (SOL) was able to maintain its position as one of the top 10 cryptocurrencies by market capitalization. .
One of the key events affecting the altcoin landscape was the decision by New York-based derivatives exchange Bakkt to delist the popular altcoin. The move was fueled by recent regulatory developments in the United States, including lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against major cryptocurrency exchanges such as Binance and Coinbase.
In these legal actions, the SEC has classified over 20 digital assets, including SOL, as securities. As a result, other trading platforms such as Robinhood have also stopped supporting these assets, citing regulatory uncertainty.
Given this situation, investors and traders are eager to assess the potential price movement of SOL early next month. To gain valuable insight, Finbold looked to: price prediction A platform known for its use of advanced machine learning algorithms. Based on the latest information available as of June 20th, the platform predicts his SOL valuation as follows: $15.84 By July 1, 2023.
If forecasts based on various indicators such as Relative Strength Index (RSI), Moving Average (MA), Moving Average Convergence Divergence (MACD), Bollinger Bands (BB) are accurate, earnings will decrease slightly. Solana’s price compared to its current price of $15.98.
SOL price trend
In terms of price, SOL is currently trading at $15.98, representing a 2.41% gain over the past 24 hours. Last week, Solana’s price he fell 2.1%.
The $14.52 support level can be considered a key level for Solana as it is expected to provide a strong lower floor for the price and prevent further declines.
Elsewhere, $17.36 is seen as a key level of price resistance. At this level, sellers are likely to emerge and limit further price increases.
Despite its price drop following the SEC lawsuit, Solana still ranks ninth in market capitalization, with a market capitalization of $6.3 billion.
Disclaimer: The content of this site should not be considered investment advice. Investments are speculative. When you invest, your capital is at risk.
