Solana slides down from $14.3 to $13.61 today, losing $0.688 (4.81%).
Solana fell below the $13.94 support zone and moved 33 cents beyond it; the next level of support with significant buyer interest is estimated at $13.59. SOL made an initial break below its 21 day Simple Moving Average at $13.55, a possible indication of a forthcoming negative trend. Having stamped out a session range of $13.52 to $14.31, Fibonacci-inclined SOL traders were highly concentrated around active Fibonacci support at $14.03.
Overall, looking at the technical analysis landscape, it seems SOL is likely to start pointing downward in the short term.
In the meantime, negative performances are also seen in other markets, Dogecoin goes down 4.23% to trade around $0.096. Algorand USD closed at $0.222 (down 5.2%). Ripple closed at $0.379 (down 3.28%).
SOL is now trading 92.78% below the significant high of $198 it set around 11 months ago. Solana is currently trading with a market cap of 4.96 billion with an average daily volume of 72.39 million.