The cryptocurrency market recently witnessed a sharp decline in its overall value, affecting major coins like SOL, NOT, STRK, ORDI, and GALA. Amid this downturn, Tether remained stable, maintaining its peg to the U.S. dollar. The total market capitalization of the crypto market dipped to $1.98 trillion, reflecting an 8.97% decrease within a 24-hour period. Concurrently, trading volume spiked by 41.15%, indicating strong selling pressure across the market.

In this scenario, the future trajectories of these alternative coins are being analyzed. There are considerations for potential continuity of the bearish trend and the likelihood of a market recovery.

Solana (SOL)

This week, SOL faced a notable drop, with a decline of over 11% in the weekly performance and 6.49% in the past day, currently priced at $126.72. Despite a brief uptick earlier, the prevailing trend indicates a challenging period for SOL.