Experts Have Voiced Their Opinion Upon Solana’s Price In 2023

A famous online crypto platform TradingView recently published a technical analysis of Solana (SOL). Experts have hinted that the troubles of SOL will be intensified in 2023.

SOL is the native crypto token of Solana Blockchain. Most recently, the price of SOL has declined by 10% for the first time since the beginning of January 21.

Solana was the world’s most consistently performing cryptocurrency in 2022. However, the current volatile market and strong bears have finally managed to bring the price of SOL down.


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Another big reason that the cryptocurrency has suffered this abrupt decline in price is the decline of FTX.

Following the collapse of FTX, almost 70% of all cryptocurrencies have seen a decline in their prices.

SOL Price Prediction is Highly Pessimistic

Experts are negative about the SOL price hike because of a steady flood of unfavorable news about the Solana blockchain.

Moreover, the ongoing FTX saga and the poor economic indicators have also played their role in downplaying SOL.

The recent announcement made a further dent in Solana’s top-tier management.

The management announced that two of the most awaited NFT projects, DeGods, and y00ts, will be launched on Ethereum and Polygon exchanges.

Solana’s users have not welcomed this news. They said that Solana itself is unwilling to use its platform for upcoming projects, so how can they expect investors to use Solana?

Experts have monitored that Alameda Research’s Wallets are Active on Solana

Another disturbing news on Wednesday was the activation of Alameda’s wallets on Solana.

Alameda Research which is currently fighting a legal battle and is owned by the sister of SBF is not the right choice.


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Solana users have also yet to accept that Solana is supporting the wallets of Alameda.

Recently the ERC-20 token has been dumped to the Solana exchange and converted into ETH, BTC, and USDT. In contrast, some of this sum is being moved into the Alameda wallets.

Twitter users have wasted no time and started the trend that the current unrest on SOL and the activation of Alameda wallets on the Solana exchange is orchestrated by SBF.

They also added that soon the price of SOL would further decline, and most of the investors would start pulling their assets out of Solana.

Before the demise of the FTX, Sam Bankman-Fried was one of the biggest vocal supporters of the Solana blockchain exchange. It helped the SOL price to go further high.

The Price of SOL in 2023-Can the Currency Reach the $3 Mark?

As of this writing, the price of SOL is USD 10.92, and the 24 hours trade volume was $217,772,141. Overall the price of SOL has dipped by 3.50%.

Experts had said that the price decline came at a crucial time when the New Year was just a couple of days ago. This decline can mount selling pressure on investors.

If a large number of investors decide to sell SOL, the token price will further go down to $5.20.


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If the crypto token touches that low, then the further slump of the token is waiting at the price level of $2.50.

Experts believe that if Solana blockchain wants to maintain the price of SOL, they have changed its decisions. First, the new NFTs projects should be launched on the Solana blockchain.

Secondly, Alameda wallets should again be banned. Both of these outcomes seem impossible. Hence, investors are sure that the price of SOL will further decline and it will be hard for SOL in 2023.

Other Altcoins to Consider At This Very Moment

Including SOL, all the other cryptocurrencies are struggling at the moment. Experts have advised that investors should consider investing in other Altcoins currently in their presale or ICO phase.

A flurry of the newly launched crypto token will hit the market in 2023. These tokens are currently available at discounted prices, but their prices are expected to go high in the future.


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