that negative momentum is in action, as price levels are declining today.
The last few hours have been unfavourable for bulls, but the most recent update shows bearish control as the coin's value has dropped.
The daily price chart for Solana price analysis shows cryptocurrency prices are trending down after small retraces from the bullish side in recent days. Today's trend is bearish, as the price is continuously declining and has dropped to $34.4, representing a 1.70 percent loss in value over the previous 24 hours and an 8.8 percent loss over the last seven days.
The price has dropped to $34.4, indicating a major shift in the trend. Nonetheless, the price has not hit its critical limitations and remains above the $34 support level.
The Solana coin has strong support at $30 and minor resistance at $35. Meanwhile, the token is ranked as the ninth largest cryptocurrency.
The trading volume for SOL fell by 21.24% in the previous 24 hours, while the market value increased by 4.36%. The Solana token's market dominance has fallen to 1.18%, with a volume/market cap ratio of 0.06317.
Solana's daily candle started at $35.26 and went at $35.27. Furthermore, the daily low for SOL was $34.40, while the price of SOL at the time of writing was $34.60.
The cryptocurrency may soon find support in the $34 level, but the bears will remain in control of the price charts for the long term. However, if a growing number of buyers decide to enter the market, the bearish majority may be challenged as well.
KEY LEVELS :
RESISTANCE LEVEL : $35.30-$36.50
SUPPORT LEVEL : $33.70-$32.00
