Bearish SOL currently $0.469 lower after trading as high as $23.22

SOL drops from $23.22 to $22.75, losing $0.469 (2.02%) today.

Solana made an initial break below its 21 day Simple Moving Average at $22.79, a possible indication of a forthcoming negative trend. In contrast, SOL could begin to recover as it approaches significant support, now 29 cents away from $22.46. Dipping below could be an indication that further losses are ahead.

Looking forward, Solana is poised to extend its strong downtrend and continue declining.

In the meantime, negative performances are also seen in other markets, UNICORN Token USD is down to $6.43, losing $0.197, after closing at $6.63 in the preceding trading session. Cardano closed at $0.362 (down 1.81%).

Other assets are showing positive performances as FTX Token is up 9.54%.

SOL has fallen back around 83% over the past 10 months, from a notable high of $136.78. Solana is currently trading with a market cap of 8.61 billion with an average daily volume of 568.76 million.