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March 04, 2023
SOL slides down from $21.4 to $20.44 today, losing $0.959 (4.48%).
Despite being in the red so far in the current trading session, Solana peaked above its 5 day Simple Moving Average around $21.83 — typically an early indicator of a new bullish trend beginning to emerge. Solana's lower Bollinger Band® is at $20.03, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, it seems Solana —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, EOS is trading around $1.21 (down $0.111). Dogecoin is down to $0.073, losing $0.003, after closing at $0.077 in the preceding trading session.
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.
10 months ago SOL reached a significant high of $136.78 but has consequently lost 84.35% since then. Solana is currently trading with a market cap of 7.75 billion with an average daily volume of 608.73 million.
