SOL gets off to a weak start; down 1.26% this morning to $21.11

SOL falls to $21.11, following mixed behavior today as it ranges between $21.11 and $21.42.

Solana made an initial break below its 50 day Simple Moving Average at $21.28, a possible indication of a forthcoming negative trend. After descending below strong Fibonacci support at $21.3, market bears have earmarked $20.04 as the next downside target. Despite this, Solana could begin to recover as it approaches significant support, now 14 cents away from $20.97. 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 closed at $6.43 (down 2.98%). EOS decreases 0.91% to trade around $1.04.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.

SOL is trading 78.89% lower compared to the $101.26 high it reached over the past year. Solana has a market cap of 8.29 billion with an average daily volume of 503.23 million.