Mixed sentiment leads SOL cryptocurrency to trade sideways; establishes tight $20.34 to $20.36 range

SOL trades at $20.35, after ending today at $20.34.

Solana is approaching key support, around 33 cents away from $20. 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. Solana's upper Bollinger Band® is at $22.65 and the lower is $19.71.

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 is down $0.197 from the beginning of the session and now trades around $6.43.

Approximately 11 months ago, Solana reached a significant high of $52.76 but has struggled to hold onto its gains and declined 61.45% since then. SOL has a market cap of 8 billion with an average daily volume of 353.86 million.