SOLANA NEWS
Despite a strong pullback this week, Solana continues declining as its price edges toward $100. Currently, SOL is down 3.51% today, trading at $102.
However, other project’s are seeing success, with the Bitcoin Minetrix presale raising over $11.3 million.
Solana’s pullback has seen significant sell pressure this week, with its price down 8.37%, wiping over $4 billion from its market cap.
Meanwhile, altcoins like Ethereum and BNB have shown strength, illustrating a rotating interest from Solana to other cryptos.
The Solana price chart shows a rejection from the top of its current trading range, followed by a break below the mid-range. The current daily candle is rejecting the level, forming a retest that will flip the support to resistance.
Another bearish signal is that Solana’s trading volume has steadily fallen since November, displaying traders’ fading interest in the asset.
This indicates a slowing momentum, signifying a move toward the $80 range low could be on the horizon.
