Mixed sentiment leads SOL cryptocurrency to trade sideways; establishes tight $23.76 to $24.06 range

A mostly flat day so far for Solana, ranging between $23.76 and $24.06; currently at $23.78.

As the trading day commences, technical analysis suggests Solana is approaching key support, around 33 cents away from $23.45. 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. Trend-following investors would be interested to note that SOL made an initial breakout above its 3 day Simple Moving Average at $24.03, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Solana's upper Bollinger Band® is at $25.98, suggesting that a downward move may follow.

The current technical outlook indicates SOL will continue to ebb sideways within tight ranges for the immediate future.

Meanwhile, mixed performances are seen elsewhere as FTX Token soars 9.54% to trade around $1.36. Tezos USD is down $0.027 from the beginning of the session and now trades around $1.32. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.

Solana reached a significant high of $136.78 around 10 months ago but has lost 82.55% since then. SOL is currently trading with a market cap of 9.00 billion with an average daily volume of 514.56 million.