- SOL’s price dropped 1.16% over the past 24 hours and was trading at $28.40.
- The altcoin’s price rebounded off of the key support level at $27.00 in the previous 2-3 hours.
- A bearish candlestick was forming on SOL’s hourly chart, which could result in a short-term drop in SOL’s price.
The price of Solana (SOL) dropped slightly over the past 24 hours according to CoinMarketCap. At press time, the altcoin was trading at $28.40 after it fell by 1.16%. Despite the 24-hour decrease in price, SOL’s weekly performance remained firmly in the green at +32.30%.
The altcoin was, however, able to outperform the two market leaders Bitcoin (BTC) and Ethereum (ETH) during the past day of trading. At press time, SOL was up 2.33% against BTC and was up 2.80% against ETH. As a result, 1 SOL was worth 0.0009299 BTC and 0.0146 ETH.
Furthermore, the daily training volume for SOL dropped more than 30%. The crypto’s total 24-hour volume stood at $1,680,294,882, which was a 32.01% drop compared to the previous day’s trading volume.
Hourly chart for SOL/USDT (Source: TradingView)
From a technical perspective, SOL had rebounded off of the major support level at $2…
The post SOL’s Price Rebounds, but May Not Be Out of the Woods Yet appeared first on Coin Edition.
The post SOL’s Price Rebounds, but May Not Be Out of the Woods Yet appeared first on Coin Edition.