{"id":75399,"date":"2023-11-02T14:36:46","date_gmt":"2023-11-02T14:36:46","guid":{"rendered":"https:\/\/kryptodata.se\/arthur-hayes-celebrates-500-rebound-in-solana-price-with-recent-purchase\/"},"modified":"2023-11-02T14:36:46","modified_gmt":"2023-11-02T14:36:46","slug":"arthur-hayes-celebrates-500-rebound-in-solana-price-with-recent-purchase","status":"publish","type":"post","link":"http:\/\/kryptodata.se\/arthur-hayes-celebrates-500-rebound-in-solana-price-with-recent-purchase\/","title":{"rendered":"Arthur Hayes celebrates 500% rebound in Solana price with recent purchase"},"content":{"rendered":"<p>Arthur Hayes, the former CEO of BitMEX, has admitted to buying Solana&#8217;s SOL cryptocurrency at its possible local top, despite its reputation as a meme coin. SOL has already rallied 500% in the past 11 months and recently reached a 14-month high of around $46.75. Hayes expects the price to continue rising in the coming weeks, but technical and fundamental signals suggest a potential 30% price drop in November. If this bear scenario occurs, the next downside target for SOL could be around $30.25, down about 30% from current prices. This level coincides with SOL&#8217;s 200-3D exponential moving average and a break below it could lead to a test of the cryptocurrency&#8217;s ascending trendline support near $26. <\/p>\n<p>Summary:<\/p>\n<p>&#8211; Arthur Hayes has admitted to buying SOL at its possible local top, despite its previous rally.<\/p>\n<p>&#8211; SOL has already gained 500% in the past 11 months and recently reached a 14-month high.<\/p>\n<p>&#8211; Technical and fundamental signals suggest a potential 30% price drop in November.<\/p>\n<p>&#8211; The next downside target for SOL could be around $30.25, down about 30% from current prices.<\/p>\n<p>&#8211; A break below this level could lead to a test of SOL&#8217;s ascending trendline support near $26.<\/p>\n","protected":false},"excerpt":{"rendered":"<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-11\/7134f7f2-addc-487d-811a-61878ec37296.jpg\"><\/p>\n<p>Hayes may face short-term losses on his Solana buy-in, but the long-term upside looks promising as the cryptocurrency market recovers.<\/p>\n","protected":false},"author":1,"featured_media":75400,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_oct_exclude_from_cache":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[21],"tags":[],"class_list":["post-75399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - 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