After three days of going down, SOL is flat today, hovering around $19.74

After dropping down to $19.38, Solana recovers some losses and is currently trading at $19.74.

Solana made an initial break below its 200 day Simple Moving Average at $19.51, a possible indication of a forthcoming negative trend. On the other hand, note that Solana's upper Bollinger Band® is at $22.3 and the lower is $19.37. SOL is approaching key support, around 16 cents away from $19.58. 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.

According to technical indicators, Solana is positioned for a downward move in the short term.

While SOL is pretty flat so far today, mixed performances are seen elsewhere as FTX Token is up 9.54%. UNICORN Token USD draws back 2.98% to trade around $6.43. Ripple is up 1.07%.

A year ago SOL reached a significant high of $52.76 but has consequently lost 62.8% since then. SOL has a market cap of 7.82 billion with an average daily volume of 314.47 million.