SOL is down by $0.363 (-1.73%); currently trading around $20.58

SOL drops from $20.94 to $20.58, losing $0.363 (1.73%) today.

Solana made an initial break below its 10 day Simple Moving Average at $20.72, a possible indication of a forthcoming negative trend. Having stamped out a session range of $20.51 to $20.94, Fibonacci-inclined Solana traders were highly concentrated around active Fibonacci support at $20.77. SOL's upper Bollinger Band® is at $22.41 which indicates a further downward move may follow. Despite this, Solana could begin to recover as it approaches significant support, now 1 cents away from $20.59. Dipping below could be an indication that further losses are ahead.

Overall, the technical analysis landscape suggests that on the balance of probability, Solana is expected to maintain its bearish bias.

In the meantime, negative performances are also seen in other markets, Dogecoin is down to $0.089, losing $0.004, after closing at $0.092 in the preceding trading session. After ending today's session at $0.392, Cardano lost $0.011 and is trading around $0.381.

Positive performances can be seen by looking at other markets as having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36.

SOL has shed $103.51 points and is languishing 83.17% lower over the past year, leaving its yearly highs around $124.37 in the rear-view mirror. SOL has a market cap of 7.97 billion with an average daily volume of 480.57 million.