Solana Assumes a Downbeat Tone on Monday as Mike Tyson Reveals He’s “All In”
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Superstar heavyweight boxer Mike Tyson, a vocal supporter of cryptocurrency, recently noted that he is “all in” on Solana (SOL) and asked his over 5.7 million Twitter followers where they thought the price of the cryptocurrency could go next. Tyson tweeted yesterday: “How high do you think Sol will go?”
The tweet has gathered over 2,600 replies since yesterday, at press time, but no one has provided a meaningful price analysis for SOL. Instead, most commenters were artists trying to sell the world champion their NFTs.
Just last week, the renowned boxer, arguably one of the best boxers of all time, tweeted that he was “All in on Solana,” adding that he “Just copped a Catalina Whale,” a whale NFT depicting the boxer. The NFT came from the Catalina Whale Mixer collection.
Before jumping on the Solana bandwagon, Mike Tyson consulted his fans on Twitter on which cryptocurrency he should choose. Last June, Tyson wanted to choose between Bitcoin and Ethereum and tweeted: “Which do you prefer, BTC or ETH?” He later changed his mind and asked fans to suggest if he should go for either Etherum or Solana. With his latest tweet, it is obvious that the superstar made his pick.
Key Solana Levels to Watch — January 17
Ever since its bullish resurgence between Monday and Thursday last week, SOL has fallen into a steady sideways momentum between $150 and $140 as bulls ran out of steam. This bullish fallout comes after the seventh-largest cryptocurrency hit a snag at the descending trendline at $157 from a failed breakout.
That said, the broader market entered a mild bearish tone on Monday as the total crypto market valuation is down by 1.38% at press time. A breach below the $140 support could be bad for SOL bulls as it would resume the downward cycle within my converging channel and possibly send the price to the $125 low. However, at the moment, the path of least resistance appears to be in favor of the downside, making a bearish move below $140 in the coming days possible.
Meanwhile, my resistance levels are $170, $175, and $180, and my support levels are $167, $160, and $155.
Total Market Capitalization: $2.04 trillion
Solana Market Capitalization: $44.6 billion
Solana Dominance: 2.18%
Market Rank: #7