Solana’s price dropped slightly after reclaiming $175, but the price decline might not continue further.
Solana’s price increased by more than 20% in the last seven days.
If the bull rally resumes, then SOL might go above $180.

Solana managed to reclaim $175 on the 18th of May, but it soon witnessed a price correction, pushing the token’s value down. Does this mean SOL is bound to go down further in the coming days?
Last week was a tremendous success for Solana, as the token’s price rallied substantially. According to CoinMarketCap, SOL’s price surged by more than 20% in the last seven days, allowing it to touch $175.
However, SOL couldn’t hold that spot as it dipped.
The decline from $175 also had a negative impact on the token’s social metrics. Its Weighted Sentiment dropped sharply, meaning that bearish sentiment around it was dominant in the market.
Nonetheless, its Social Volume remained stable.

Investors shouldn’t get disheartened, as a recent analysis suggested that SOL’s price might skyrocket. Alex Clay, a popular crypto analyst, recently posted a tweet highlighting an interesting development.
In a monthly time frame, SOL displayed a rounding bottom pattern. If this pattern tests out, then investors might soon witness SOL reach new highs.

What to expect in the short term

A rise in the metric meant that derivatives investors were buying SOL. According to Coinglass’ data, SOL’s Open Interest also increased, which might serve as a push for the coin’s weekly rally.

However, concerns still remain. The coin’s fear and greed index had a value of 75% at press time, meaning that the market was in an extreme greed phase. Such numbers often result in price drops.
The Relative Strength Index (RSI) looked pretty bullish, as it had a value of 64.
If a price correction happens, SOL’s price might fall to $173.5 as liquidation would rise sharply, which might act as a support. A further downfall could push SOL’s price to $165.
However, if SOL manages to continue its weekly bull run, then the token might be able to go above $180.

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Solana momentarily surpasses Ethereum in DEX volume due to lower fees and faster transactions.
Thanks to its early start and network effects, Ethereum has long been the frontrunner in decentralized finance (DeFi). However, recently, Solana has experienced its own growth in that area, fuelled by its low fees and developer-friendly environment.
Last week, Solana once again exceeded Ethereum’s volume on decentralized exchanges (DEX), leading investors to ask questions about Ethereum’s long-term outlook.
Solana’s DEX Lead Over Ethereum
On Friday, May 10, Solana briefly surpassed Ethereum in DEX trading volume, recording $1.3 billion compared to Ethereum’s $1.29 billion. The flipping was primarily due to increased trading activity on Solana, thanks to a renewed interest in memecoins.
In recent months, Solana has attracted a significant community of memecoin enthusiasts. Tokens like Bonk and DogWifHat have seen increases of upwards of 1000% since their launch.
As noted in a recent analysis by Franklin Templeton, memecoin airdrops have received huge attention among the community. They also generated significant wealth effects, further contributing to interest.
However, despite Solana’s temporary lead in DEX volume, Ethereum quickly regained its top position by the end of the day, closing the day at $1.39 billion in volume. Conversely, Solana’s trading volume dropped to $943 million.
Solana’s DEX Volume Is Not What It Seems
This was not the first time Solana flipped Ethereum in DEX volume. The last time this happened was on April 21, when Solana’s DEX volume was $1.4 billion, compared to Ethereum’s $1.16 billion. Before that, on March 16, Solana’s DEX volume was even higher, at $3.4 billion, against Ethereum’s $2.4 billion.
It is important to note that high network volume does not mean the same thing for Ethereum and Solana. Due to its low fees, Solana attracts a significant number of high-frequency trades, which boost its overall volume. On the other hand, Ethereum’s higher gas fees mean that its users will only trade when it is advantageous.
While their DEX volume is comparable, Ethereum still holds significant dominance regarding the network’s total value locked (TVL). Currently, Ethereum has a TVL of $52 billion, dwarfing Tron’s $8 billion and BSC’s $6 billion. Solana is only in fourth place in this metric, at a TVL of $4 billion.
Even if Solana were to take the first spot in either DEX or network volume for good, it would still need to come a long way before it can grow to the size of the
Why This Matters
Even if Solana is still far behind, its rise challenges Ethereum to continue improving, particularly around scalability and transaction costs, two critical areas for user experience.
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Bitcoin monthly open price in every October since 2010 🔥 What do you think about the October closing price? Let me know your thoughts 💸 2010 - $0.062011 - $5.042012 - $12.242013 - $130.422014 - $387.592015 - $237.162016 - $611.152017 - $4,341.022018 - $6,605.422019 - $8,321.232020 - $10,781.772021 - $43,815.882022 - $19,421.812023 - 26,951.00$BTC #BTC #crypto2023 #CryptoTalks

The price of Terra Classic (LUNC) has seen a decline of 3% throughout the preceding 24-hour period, resulting in its value dropping to $0.00005852. Consequently, this altcoin now occupies the 90th position in the hierarchy of cryptocurrency market capitalization rankings.
LUNC has seen a decrease of 9% over the course of the previous week. Although it has shown an increase of 3% over the last 14 days, it continues to exhibit a decline of 1% over the span of a month and a substantial decrease of 81% over the last year.
The observed declines indicate a sustained downward trend that has affected LUNC since 2023. The community associated with the currency has encountered difficulties in their efforts to enhance the value of both LUNC and its associated stablecoin, USTC.
It seems probable that LUNC will have a sustained decline in the future, prompting Finbold to delve into the employment of machine learning algorithms by PricePredictions, a cryptocurrency monitoring and prediction platform, on October 4. The objective was to assess the potential price of LUNC at the end of October based on the latest developments.
According to the analysis, Terra Classic is projected to decline to $0.000055 by October 31. The prediction is gathered by using several key technical indicators, including the moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and more.

However, if proactive measures are implemented to enhance its ecosystem and value, there is a possibility of a subsequent resurgence in its price.
Traders losing interest in LUNC
Technical signs show that LUNC is sliding again after riding the market rebound on Monday, October 2.
Several recently agreed governance changes have not significantly impacted LUNC’s price, suggesting that the broader market has lost interest in the cryptocurrency.
New to the ballot for Terra Luna Classic is a proposal to support a team of developers with the stated goal of implementing a comprehensive roadmap of enhancements and adding “value to the Terra Classic blockchain so that we can help push this chain where it deserves to go.”
Terra Classic chart analysis
Diving into the current market dynamics, Terra Classic is navigating the intricate web of value with its current trading price at $0.00005852. A discernible 3.16% downturn within the last 24 hours and a more substantial 9.81% decrease over the week presents a nuanced narrative.
Now, shifting focus to LUNC’s price analysis we take a deeper plunge into the intricacies of its price action. The resistance level, standing at $0.00006, acts as a psychological barrier where selling pressure tends to intensify.
On the flip side, its support level at $0.00005 denotes a critical threshold where buying interest tends to materialize. This interplay between resistance and support levels unveils the underlying tug-of-war within LUNC’s market ecosystem.
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not financial advice