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Solana Price Dips as Meme Coin Hype Fades

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Solana (SOL) has been on a downward trend since reaching an all-time high of $295.83 on January 19. The altcoin currently trades at $226, declining 23% from its peak.

With the bears regaining market control, SOL faces increasing selling pressure and waning demand.

Solana Demand Wanes as Meme Coin Hype Dwindles

The significant surge in the demand for the Solana-based meme coin TRUMP pushed SOL to a new all-time high of $295.83 on January 19. However, following Donald Trump’s January 20 inauguration and the launch of the MELANIA meme coin, TRUMP’s trading activity faded gradually. This resulted in a dip in activity on the Solana network, which has impacted SOL’s performance.

SOL trades at $226 as of this writing, noting a 9% decline over the past 24 hours. This has pushed its price below the 20-day Exponential Moving Average (EMA), a key indicator of weakening momentum. 

SOL 20-Day EMA.
SOL 20-Day EMA. Source: TradingView

The 20-day EMA measures an asset’s average price over the past 20 trading days, giving more weight to recent prices to highlight short-term trends. When an asset’s price falls below this key moving average, it signals a shift in momentum to the downside, suggesting a weakening of the uptrend amid increased selling pressure.

In addition, the setup of SOL’s Moving Average Convergence Divergence (MACD) indicator supports this bearish outlook. At press time, SOL’s MACD line (blue) is poised to break below its signal line (orange).

When an asset’s MACD is set up this way, it suggests a bearish crossover, indicating that selling momentum is building, hinting at a sustained price drop. 

SOL MACD.
SOL MACD. Source: TradingView

SOL Price Prediction: A Dip Below $210 Is Imminent

If SOL’s selling pressure strengthens, readings from its Fibonacci Retracement tool indicate that its price could fall below $210 to trade at $202.73.

SOL Price Analysis.
SOL Price Analysis. Source: TradingView

On the other hand, a surge in new demand for the altcoin will invalidate this bearish projection. In that case, Solana’s price could attempt to reclaim its all-time high.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Price Bulls Stay In Control: Uptrend Poised to Continue

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

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At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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Hidden Altcoins Gems For February

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Altcoins with strong fundamentals and growing ecosystems could see a rebound in February. Jupiter (JUP) has strengthened its position in the Solana ecosystem with key acquisitions, pushing its TVL past Raydium.

Aerodrome Finance (AERO), the dominant DEX on Base, is trading near key psychological levels after a sharp decline, making it one of the most interesting altcoins to watch. Meanwhile, Grass (GRASS) has struggled with the broader AI token correction but could recover if AI-related hype returns next month.

Jupiter (JUP)

Jupiter (JUP) is expanding its presence in the Solana ecosystem through key acquisitions. It recently acquired Moonshot, a coins launchpad, and SonarWatch, a portfolio tracker. With these moves, JUP has surpassed Raydium in Total Value Locked (TVL), reaching $2.87 billion.

Despite a 7% drop in the last 24 hours, JUP remains up 29% over the past week. As one of Solana’s most used platforms, its growing ecosystem could drive further gains. Increased adoption and integrations may continue boosting its relevance.

JUP Price Analysis.
JUP Price Analysis. Source: TradingView

If momentum continues, JUP could test $1.22 and $1.27 soon. However, if the trend reverses, it may fall to $0.98, with further downside to $0.83 or even $0.76.

Aerodrome Finance (AERO)

AERO is the leading application on the Base chain, with $1 billion in TVL and $1.16 million in daily fees. As the most used DEX on Base, it holds a dominant position despite being 56% down from its all-time high on December 7, 2024, making it one of the most interesting altcoins for February.

Over the past month, AERO has dropped nearly 31%, now trading around $1 with a market cap of $765 million. The recent decline has pushed it closer to key psychological levels, making the next moves crucial.

AERO Price Analysis.
AERO Price Analysis. Source: TradingView

If AERO regains strong momentum, it could see a major rally in February. Key targets include $1.4 and $1.6, with a potential move above $2 for the first time since mid-December.

Grass (GRASS)

GRASS has been hit hard by the recent correction in artificial intelligence cryptos, with its price dropping over 27% in the past 30 days. It is now trading at its lowest levels since November 5, 2024, just days after its airdrop.

The token attempted to break above $4 on three separate occasions in 2024 but failed each time. Since January 6, 2025, it has remained below $3, indicating a clear downtrend.

GRASS Price Analysis.
GRASS Price Analysis. Source: TradingView

If AI-related altcoins regain momentum in February, GRASS price could benefit from the renewed interest. A rebound toward the $2 range is possible, and if the uptrend strengthens, the token could revisit the $3 level as well.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin Price Displays Bullish Signs: A Recovery In The Making?

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Bitcoin price started a fresh upward move above $102,000. BTC is rising and might gain pace for a move above the $105,000 resistance zone.

  • Bitcoin started a decent upward move above the $102,000 zone.
  • The price is trading above $103,500 and the 100 hourly Simple moving average.
  • There was a break above a key bearish trend line with resistance at $102,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another decline if it stays below the $105,000 zone.

Bitcoin Price Breaks Resistance

Bitcoin price started a decent increase above the $100,000 resistance zone. BTC was able to surpass the $102,000 and $102,200 resistance levels to move into a positive zone.

There was a break above a key bearish trend line with resistance at $102,400 on the hourly chart of the BTC/USD pair. The pair climbed above the 61.8% Fib retracement level of the downward wave from the $107,080 swing high to the $97,688 low. It even cleared the $103,500 resistance zone.

The pair settled in a positive zone and now faces hurdles near the $105,000 zone. Bitcoin price is now trading above $103,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $104,800 level or the 76.4% Fib retracement level of the downward wave from the $107,080 swing high to the $97,688 low.

Bitcoin Price

The first key resistance is near the $105,000 level. The next key resistance could be $105,500. A close above the $105,500 resistance might send the price further higher. In the stated case, the price could rise and test the $107,000 resistance level. Any more gains might send the price toward the $108,800 level in the short term.

Another Decline In BTC?

If Bitcoin fails to rise above the $105,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $103,200 level. The first major support is near the $102,000 level.

The next support is now near the $101,200 zone. Any more losses might send the price toward the $100,000 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $103,200, followed by $102,000.

Major Resistance Levels – $105,000 and $107,000.



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