Solana, Dogecoin, Binance Coin and others have been slumping.
The crypto currency markets are flat — Bitcoin is relatively flat, trades at $19,100.
Current market events are being influenced by ambiguous macro data as highly important Producer Price Index data from United States beat analyst expectations of 0.2% with a reading of 0.4%.
What is a downtrend?
A trend is the overall direction of a market or an asset's trading price over a certain period. A downtrend is when the price is generally pointing downwards; there can be certain periods of time when the price increases, yet the trend remains in a downward direction.
Solana increases to $31.09 after an 8 day downtrend Solana cryptocurrency trades up $0.312, approximately 1% higher this afternoon
While Solana in the midst of an 8 day downtrend today's positive session could indicate a brief correction amid a broader downtrend, or, the start of a potential reversal. After closing the previous trading day at $30.78, SOL rose as high as $31.45 today before paring back gains and trading at $31.09.
An 8 day downtrend, falling 9.19%: DOGE ended the previous session at $0.06; currently trading at $0.06
More of the same today: slightly weaker but mostly flat: DOGE is currently trading at $0.06 as it maintains an active range between $0.06 and $0.061. While on an 8 day slump, falling a total of 9.19%,
Dogecoin is currently trading with a market cap of 7.93 billion with an average daily volume of 62.37 million. DOGE is now trading 79.96% below the significant high of $0.3 it set around 11 months ago.
Retreats for 8 days and losing 8.77%, Binance Coin is down $1 (0.37%), trading around $270.29
Binance Coin has been losing ground for 8 days, shedding a total of 8.77% of its value. similar trend today: after closing at $271.3 today, Binance Coin opened today at $271.3, to be greeted by bearish sentiment that overshadowing today's price action. Irrespective of the bearish mood, Binance Coin retains a distinct $270.03 to $272.68 daily range.