SOL drops from $20.94 to $20.66, losing $0.284 (1.36%) today.
Solana made an initial break below its 10 day Simple Moving Average at $20.72, a possible indication of a forthcoming negative trend. Having stamped out a session range of $20.51 to $20.94, Fibonacci-inclined SOL traders were highly concentrated around active Fibonacci support at $20.77. Solana's upper Bollinger Band® is at $22.4 which indicates a further downward move may follow. Despite this, SOL could begin to recover as it approaches significant support, now 7 cents away from $20.59. Dipping below could be an indication that further losses are ahead.
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, after ending today's session at $0.092, Dogecoin lost $0.003 and is trading around $0.089. Cardano closed at $0.381 (down 2.78%).
Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.
SOL is trading 83.17% lower compared to the $124.37 high it reached over the past year. SOL has a market cap of 8.00 billion with an average daily volume of 480.57 million.