SOL’s Bear Reign Persist: Is there a Potential for Trend Reversal?
Solana (SOL) has been under the bear rule, with its price retracing from an intraday high of $20.76 to an intraday low of $20.16, where support levels were tested. SOL was still under a negative impact at the time of writing, leading the price to plummet to $20.31, a 2.28% decrease from its previous close. The market’s perception of SOL remains uncertain as investors closely monitor price swings for signs of a probable rising trend. The declines in market capitalization and 24-hour trading volume of 2.13% and 10.98%, respectively, to $7,824,355,979 and $377,069,022, demonstrate the market’s shaky trust. If the bearish trend continues and the support level at $20.16 is breached, the next support levels to monitor are $19.80 and $19.00, which might lead to more selling pressure from traders and investors. But, if SOL manages to break over the resistance level of $21, it might suggest a possible reversal of the present slump and draw additional buyers into the market. SOL/
