Solana Price Update: SOL Drops 9% During Crypto Market Turbulence, While AI Meme Coin Surges Beyond $7 Million

The Solana Price Update

The Solana price plummeted over 9% in the past 24 hours to trade at $123.48 as of 12:00 a.m. EST amid the ongoing crypto market turbulence. This drop reflects a larger decline of 16% over the past 7 days and a 28% decrease over the month.

Solana Price Testing Critical Support

The Solana price recently breached the key support level at $129 and is now testing the next critical mark at $123.65. If SOL closes below $123.65 within the next 8 hours, it may potentially drop further to $118.20 in the short term. Alternatively, staying above $123.65 could pave the way for a recovery towards $129 and possibly up to $135.85.

Technicals Suggest Continued Downward Pressure

Technical indicators on SOL’s 4-hour chart indicate a bearish trend. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) both show negative signals, with the MACD line below the signal line, signaling potential further declines.

  • The MACD line recently crossed below the signal line, indicating increasing bearish momentum.
  • RSI readings are in the mid-20s, suggesting oversold conditions which may prolong the bearish sentiment.

If SOL fails to hold above $123.65, it could see a drop towards $118.20 as selling pressure persists.

Focus Shifts to WienerAI (WAI)

Amidst the bearish market sentiment, attention is turning to WienerAI (WAI), an AI meme coin that has surpassed $7 million in funds raised. This project integrates sophisticated AI technology designed to assist traders in navigating volatile markets effectively.

WienerAI: Tools for Traders

WienerAI offers predictive AI models to uncover insights in the crypto market, enhancing decision-making capabilities for traders. Features include seamless token swaps and MEV protection to ensure secure and efficient trading.

Investor Appeal: WAI’s Staking Opportunity

Investor interest in WienerAI is bolstered by a compelling 161% Annual Percentage Yield (APY) offered during its ICO phase. This staking opportunity, accessible via various payment methods, attracts investors seeking high returns.

WienerAI tokens are currently priced at $0.000725 and can be purchased using ETH, USDT, BNB, or bank card, with a price increase anticipated soon.