Solana (SOL) Could Recoup Losses In Last 7 Days

Name	Symbol	Market	Market Cap ($)	Algorithm
Uniswap	UNIUSD	Crypto	5,283,904,336	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Uniswap

UNIUSD

Crypto

5,283,904,336

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.020	-0.28%	7.03	7.03	7.03

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.020

-0.28%

7.03

High Price	Low Price	Open Price	Prev. Close	52 Week Range
7.07	6.94	7.05	7.05	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

7.07

6.94

7.05

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GEMN	03:50:35	0.991934	7.03	USD

Exchange

Last Trade

Size

Trade Price

Currency

GEMN

03:50:35

0.991934

7.03

USD

Price x Volume	Volume	Base Symbol	Related Pairs
656,115.73	93,679.95	UNI	UNIEUR	UNIGBP	UNIBTC

Price x Volume

Volume

Base Symbol

Related Pairs

656,115.73

93,679.95

Solana (SOL) Could Recoup Losses In Last 7 Days – Here’s How

22/10/2022 1:28pm

NEWSBTC

Solana continues to paint its charts in red, registering declines on its intraday, weekly, biweekly, monthly and year-to-date price metrics. Solana loses over 7% of its value over the last seven days SOL’s extended bearish movement will likely pull the asset below $25 Solana’s current TVL is less than a billion The crypto has already lost 89.3% of its November 6, 2021 all-time high (ATH) of $259.96 and is currently trading at $27.81 according to tracking from Coingecko at the time of this writing. Over the last seven days, the altcoin dropped by 7.4%. On a 14-day period, Solana declined by over 15% as it failed to make any kind of recovery for quite some time now. As if the cryptocurrency hasn’t suffered enough already, its analysis points indicate it is due for a bearish pull in this extended crypto winter. Solana Seen Dropping Before Bouncing Back After Solana fell below the crucial $30 marker, its chart had red candlesticks for three straight days, putting its trajectory into a further decline. The digital asset’s problems became bigger when it dropped below $28 as its 20 and 50 Exponential Moving Average (EMA) indicated sellers having a huge advantage this time. Related Reading: AVAX Sheds 50% Over The Last 60 Days – More Losses Ahead? Source: TradingView A piece of good news, however, is that despite having another bearish run, Solana managed to keep its hopes of making a bounce back intact. A massive downward pull will likely put the altcoin in $26.3 support which will give sellers the opportunity to do their work and deflate SOL’s price further, all the way to $24. After this, the digital coin is seen to have some breathing room and prepare for an upward price rally which will target the $27 to $29 range. If Solana manages this, it will recover some of its losses over the last week. Analysts, however, are seeing a slow moving phase for the crypto asset. Solana’s DeFi Locked Value Plummets To Under A Billion Solana used to rival some of the more prominent blockchains in terms of its Decentralized Finance (DeFi) total value lock (TVL). Just last year, the network’s TVL recorded a massive surge as it reached over $10 billion. However, at press time, that value significantly dropped and is at just above $860 million. Not only did Solana’s TVL dried up, it is in danger of going down even more as the DeFi industry has lost a lot of its momentum. It would appear not many people are willing to gamble and take risks in a market that is under a bearish streak. If this continues, SOL will likely end-up falling below the $25 marker and will lose any chance of triggering a bullish rally on the way to hitting another all-time high. Related Reading: Uniswap Coin’s Bullish Trajectory Sets UNI To Breach $7 Level – Time To Buy? SOL total market cap at $9.9 billion on the weekend chart | Featured image from Analytics Insight, Chart: TradingView.com Disclaimer: The analysis represents the author's personal views and should not be construed as investment advice.

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

UNIUSD Uniswap