Solana Price Continues To Trade Laterally With Signs Of Further Depreciation

Solana price has moving been sideways for the last few months, and it has maintained the same price action. Over the last 24 hours, SOL has depreciated 2.6%. In the past week, the altcoin’s gains were negated by the ongoing lateral trading. Buying strength has remained low over the last week and that has further pushed Solana price to their closest support line. If buyers push the price higher, SOL could attempt to topple over the $33 price level. As sellers continue to dominate, it could be tough for SOL to experience a breakout from the $30-$32 price zone. The bulls failed to hold onto the $33 price mark and ever since that, the coin has continued to spiral downwards. Increased consolidation of SOL has reduced buyers’ confidence. For SOL to invalidate the bearish thesis, it needs to move above the $40 price zone. The global cryptocurrency market cap is now $971 billion, down by 0.2% in the last 24 hours. Solana Price Analysis: One Day Chart SOL was trading at $33 at the time of writing. The coin experienced heavy resistance at the $41 price mark, and the bulls have been rejected at that mark for over months now. Immediate resistance for Solana price was at $38, toppling which SOL might attempt to touch $41. On the flip side, a fall from the present price mark will push SOL to $30 and then to $26. The amount of Solana traded in the last session declined, indicating that buyers were fewer in number. Technical Analy...