At the time of writing, SOL is trading at $139.84, up 0.98% in the last 24 hours.
If the price goes below $134 level, then it will likely decline till $129 support level.
Anatoly Yakovenko, co-founder of Solana, has once again sparked heated controversy by criticizing the way the US government is dealing with cryptocurrency legislation. In the midst of the current crypto market turbulence, Yakovenko went on the X platform to express his worries. Drawing a comparison between the government’s regulatory approach and the healthcare sector’s disarray.
Due to equally intense purchasing and selling pressure, the short-term price action of Solana has been very unstable. Because of this, the price has been trapped in a range bound action.
Dull Performance
The rise has been able to avoid a decline below $133 thanks to the robust foundation provided by bulls. Even if they have been unable to raise the levels above the range. There has been a lot of price volatility recently, but the fact that Solana is still trading inside a positive range gives investors reason to be optimistic.
SOL, since July 3, has failed to close over $145. The overall market value of the crypto sector dropped significantly over the past week, which may be attributed in part to the diminished interest in cryptocurrencies, which may explain this poor performance.
At the time of writing, SOL is trading at $139.84, up 0.98% in the last 24 hours as per data from CMC. Moreover, the trading volume is down $49.72%. If the price manages to break above $142 level, then it will likely test $146 resistance level. However, if the price goes below $134 level, then it will likely decline all the way till $129 support level.