After four days of going down, SOL is stable today, trading around $20.66

A mostly flat day so far for Solana, ranging between $20.56 and $20.79; currently at $20.66.

With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Analysis based on the asset volatility indicates that Solana's upper Bollinger Band® is at $23.44 and the lower is $20.27. Technical analysis shows that SOL is approaching key support, around 76 cents away from $19.9. 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.

Overall, the technical outlook suggests SOL is likely to remain muted for the immediate future, with no clear-cut direction.

At the same time, mixed performances are seen elsewhere as FTX Token is up 9.54%. Bitcoin Cash ascends 2.37% to trade around $113.87. EOS rises 1.62% to trade around $0.921.

11 months ago SOL reached a significant high of $67.81 but has consequently lost 69.57% since then. Solana has a market cap of 8.16 billion with an average daily volume of 445.14 million.