Solana Loses 17% Of Value As SOL Crawls Back From $35 Slide

Solana bears are dominating the market and thus, SOL is expected to plummet further in the coming days. The crypto support is prominent at $37.7 and resistance is strong at $45. Meanwhile, the bears are gaining traction and could overpower the market. SOL price has recently dwindled down from $42 to $38 and is getting quite comfortable with that range. Negative movement is remarkable specifically at the $39 zone as SOL remains bearish. Solana has dipped by 5.52% overnight and is currently trading at $38.7 with a trading volume of $1,324,152,085. As of press time, SOL has a market capitalization of $13,403,122,727 and is currently ranked as the 9th largest coin in terms of market cap. Suggested Reading | Bitcoin Retreats Over Last 6 Sessions As BTC Bulls Chart Their Next Move Solana Inches Back Towards Support Line Solana price just like Bitcoin and Ethereum has demonstrated a downward movement. More so, the cryptocurrency appears to be less volatile. Consequently, the SOL/USD price is crawling towards the support line implying a reversal that can potentially breach the pair’s bearish movement. SOL price has swerved into a bullish momentum seen in the past few days. However, as the volatility seems to simmer down, the SOL value exhibited minimal change. The SOL/USD pair is crossing below the Moving Average curve showing a bearish streak. On the flip side, the market now looks to be swerving downwards as it shifts to a nega...