Solana is down 2.55%, trading at $18.41

SOL is consolidating around the $18.41 level after dropping $0.482 at the start of the trading session.

Solana made an initial break below its 50 day Simple Moving Average at $18.52, a possible indication of a forthcoming negative trend. Solana's upper Bollinger Band® is at $19.17 which indicates a further downward move may follow. On the other hand, note that Solana could begin to recover as it approaches significant support, now 73 cents away from $17.68. Dipping below could be an indication that further losses are ahead.

In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Solana.

In the meantime, negative performances are also seen in other markets, after ending today's session at $306.71, Bitcoin Cash lost $15.93 and is trading around $290.78.

Other assets are showing positive performances as FTX Token is up 9.54%. Binance Coin ascends 2.79% to trade around $247.13.

SOL has fallen back around 59.45% over the past 10 months, from a notable high of $46.6. SOL is currently trading with a market cap of 7.37 billion with an average daily volume of 397.67 million.