Is Solana about to Swing Upward?

Solana (SOL) has been dropping for weeks, with a nearly steady decline that has lost its 16% in 30 days. That is one of the most dramatic losing streaks on the market right now among major crypto coins.

What has happened to Solana? It was doing well in May, climbing rapidly from a price point of $134 at the start of the month to peak at $186 by May 20th. Then, the coin swiftly turned around and began declining. It has been on a downward streak ever since, culminating in today’s low point of $143.77 (SOL/USD).

Analysts say that Solana appears to be bottoming out, hitting the lowest point in its trading range, which could mean that it is just about to turn around. We expect a strong, resilient token like this to go through a price correction very soon, where the steep decline has to be countered by a sudden switch, as investors realize that they have an opportunity to buy the coin while it is low.

Why Buy Solana Now?

This could be an excellent time to invest in Solan and many other crypto coins. Most of them have been on the decline for at least a few days. In Solana’s case, that would be a few weeks, which is why we say it is primed to switch gears and start moving upward.

Solana is in an interesting position right now, where it looks like it could shoot up at any moment, and it would not even take a positive news story or Bitcoin (BTC) doing well for that to happen. Simply because Solana is priced so low right now, investors could easily jump on it and boost the price.

Solana’s trade volume has spiked recently, by about 30%, meaning it could be gearing up for a major move. We suggest investors take another look at this coin before it surprises them with its upswing.