SOL slides down from $29.61 to $26.76 today, losing $2.86 (9.64%).
Solana fell below the $29.44 support zone and moved $2.68 beyond it; the next level of support with significant buyer interest is estimated at $27. The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. In contrast, Solana's lower Bollinger Band® is at $26.28, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for SOL.
In the meantime, negative performances are also seen in other markets, after ending today's session at $22.07, FTX Token lost $4.2 and is trading around $17.88. Dogecoin is down $0.012 from the beginning of the session and now trades around $0.1. MaticNetwork USD drops 12.16% to trade around $1.11.
1 year, 1 day ago SOL reached a significant high of $249.82 but has consequently lost 88.15% since then. SOL is currently trading with a market cap of 9.66 billion with an average daily volume of 110.52 million.