Solana (SOL) Stuck Below $33 In Past Days As Bearish Pressure Still Intact

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	21,364,319,286	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

21,364,319,286

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.00161	-1.06%	0.14975	0.14974	0.14977

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.00161

-1.06%

0.14975

0.14974

0.14977

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.15301	0.14746	0.15142	0.15136	0.055475 - 0.228990

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.15301

0.14746

0.15142

0.15136

0.055475 - 0.228990

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:29:48	1,560.60	0.14975	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:29:48

1,560.60

0.14975

USD

Price x Volume	Volume	Base Symbol	Related Pairs
16,887,958.50	112,395,540.86	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

16,887,958.50

112,395,540.86

Solana (SOL) Stuck Below $33 In Past Days As Bearish Pressure Still Intact

04/07/2022 9:09am

NEWSBTC

The price of Solana (SOL) has been unable to break out of a tight range between $32 and $33 during the past few days. As of this writing, SOL is trading at $32.72, down 16.5% in the last seven days – and around the same level it was trading Friday, data from Coingecko show, Monday. According to analysts, the lack of price movement in Solana suggests that the market is uncertain about the direction of the cryptocurrency. Suggested Reading | Litecoin (LTC) Drops Below $50 After Consistent Bearish Squeeze Solana Can’t Extricate Itself Past $33 The Solana coin’s retracement phase entered the red zone this week, as purchasers lost almost 20% of their investment. The bearish trend appears unbroken as prices have been unable to surpass the $33 resistance level. The subsequent level of support is $30, where prices found support earlier this week. If this level is broken, Solana prices could tumble to $28. The bears were able to close a daily candle below the 20-day simple moving average (SMA), which also worked as short-term resistance, on Saturday evening. On the same night, Solana’s market capitalization again fell below $11 billion, which translates to a 10 percent decline. Bears are active near the $43 resistance level, while the bulls are seeking to post a bullish comeback for the Solana currency. In response to the roller coaster ride, the bulls were twice rejected near the point of resistance. SOL total market cap at $11.23 billion on the daily chart | Source: TradingView.com SOL Shed Over 25% Of Its Value In Past Week Likewise, Solana’s trading volume has been rather modest and stands at $620,821,685 at present. The bulls have attempted to drive prices higher, but have thus far been unsuccessful. SOL has lost more than a quarter of its value in the previous week. This downturn began when the price was repelled at $44, a significant resistance level. The increased sell volume is placing a severe burden on the bulls, who now seem absent from the market. Market observers anticipate a reaction if the price approaches a major support level. Suggested Reading | Dogecoin (DOGE) Could Use Some Lift – An Elon Musk Tweet, Perhaps? Meanwhile, Crema Finance joins the list of protocols running on the Solana blockchain that have been compromised. In the early hours of Sunday, the liquidity protocol took to Twitter to warn users that all network activity had been canceled as a result of the attack. This year, the Solana network has been plagued by a series of setbacks and chain exploits. Moreover, the network’s protocols have degraded. According to a survey by Atlas VPN, the Solana ecosystem suffered five hacking incidents costing $397 million in the first three months of this year. Featured image from Crypto News AU, chart from TradingView.com

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DOGEUSD Dogecoin