A slow down? After four days of going up, SOL is flat today, hovering around $15.71.

SOL is now trading at $15.71 after tracing out a steady $15.49 – $15.76 range today.

Solana is approaching key support, around 50 cents away from $15.21. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Solana made an initial breakout above its 10 day Simple Moving Average at $15.76, a potential indicator of a newly emerging bullish phase.

Despite muted price action in Solana, chart analysis indicates it is positioned for a bullish run in the short term.

At the same time, mixed performances are seen elsewhere as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $0.479, Ripple is up 2.18% today to currently trade at around $0.49. Dogecoin is up 2.5%.

Approximately 10 months ago, SOL reached a significant high of $46.6 but has struggled to hold onto its gains and declined 66.45% since then. SOL has a market cap of 6.28 billion with an average daily volume of 356 million.