Mixed sentiment leads SOL cryptocurrency to trade sideways; establishes tight $20.84 to $21.24 range

SOL recovers back to $20.93 today after dipping down to $20.84, in a session that follows a previous closing value of $20.97.

Solana made an initial breakout above its 10 day Simple Moving Average at $21.3, a potential indicator of a newly emerging bullish phase. Solana's upper Bollinger Band® is at $23.54 and the lower is $19.85. Solana is climbing away and is now 88 cents from the $20.05 support line.

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 FTX Token is up 9.54%. UNICORN Token USD draws back 2.98% to trade around $6.43. Cardano slumps 1.68% to trade around $0.364.

11 months ago SOL reached a significant high of $58.81 but has consequently lost 64.34% since then. Solana has a market cap of 8.28 billion with an average daily volume of 396.18 million.