Solana slowly drifting below Support

What's in this article

The cryptocurrency market seems to be frozen as the volatility is fading out every day. Meanwhile, Solana is slowly drifting below the local support.

Solana price today is $167.99 USD with a 24-hour trading volume of $1,286,543,482 USD. Solana is down 1.77% in the last 24 hours, with a market cap of $51,979,416,022 USD. It has a circulating supply of 309,419,223 SOL coins.

Source: Tradingview

Solana: Analysis

Solana is making lower lows since it last touched EMA cross 50 and now Cross EMA 200 is acting as a local resistance here. Solana has relatively strong support above $164, fib 1.272. If this trend continues, Solana might drift below $148, fib 2.618 support – losing another 13%. However, the local resistance for Solana is at $180.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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