Today, all major cryptocurrencies are showing declines, with significant price drops, particularly for Solana.
Market Trends
Currently, all major cryptocurrencies are demonstrating declines, causing concern among traders. According to CoinStats, the market is under pressure.
Situation with Solana
Solana (SOL) is one of the biggest losers in the market, falling by 4.42%. On the hourly chart, the rate of SOL is approaching the support level of $147.47. If the situation does not change, traders expect a test of the $146 mark shortly. On a longer time frame, there are no reversal signals observed yet. However, most of the ATR fluctuations have already passed, meaning traders are unlikely to witness sharp moves by tomorrow.
Market Outlook
From a medium-term perspective, it is too early to make any long-term predictions. Currently, the price of SOL is within the previous weekly candle, indicating that neither side has accumulated enough energy.
At this time, Solana is trading at $150.57 and shows a significant decline amid the overall downturn in the cryptocurrency market.
