Mixed sentiment leads Solana cryptocurrency to trade sideways; establishes tight $21.06 to $21.3 range

Solana slides down from $21.27 to $21.16 today, losing $0.119 (0.56%).

Solana made an initial break below its 5 day Simple Moving Average at $21.05, a possible indication of a forthcoming negative trend. Solana's upper Bollinger Band® is at $21.76, suggesting that a downward move may follow. Despite this, Solana is approaching key support, around 44 cents away from $20.72. 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, SOL is positioned for a downward move in the short term.

At the same time, mixed performances are seen elsewhere as FTX Token is up 9.54%. TRON is up 0.85%. Having closed the previous session at $6.37, UNICORN Token USD is up 1.62% today to currently trade at around $6.47.

Having soared to a high of $46.6 approximately 9 months ago, Solana is now trading 54.35% lower. SOL is currently trading with a market cap of 8.40 billion with an average daily volume of 233.96 million.