Solana Faces Brief Selling Pressure After Failing to Clear $152 Mark
- The price has been facing brief selling pressure after climbing all the way to $152 mark.
- At the time of writing, SOL is trading at $144.76, down 2.04% in the last 24 hours.
The cryptocurrency market is always evolving. A major development recently took place with Solana (SOL). Seeker, Solanas new Web3 mobile device, is poised to propel the network to the front of the digital era.
A lot of people are talking about Solanas new Web3 mobile device, Seeker. It is believed that this gadget would greatly simplify the usage of decentralized applications (dApps). The technology allows for the integration of blockchain into mobile phones. The fact that Solana is making Web3 functionality easily accessible could pique the interest of both tech users and the general public.
Brief Correction Underway
Solana traders may breathe a sigh of relief for the time being, at least, since a death cross signal is no longer a possibility. It seemed like the 200-day and 50-day moving averages were going in the same direction. However, with the recent rebound it has been likely avoided.
The death cross is usually a warning indicator that prices are about to fall much worse; however, Solana managed to dodge the catastrophe. At the time of writing, SOL is trading at $144.76, down 2.04% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 2.93%.
The price has been facing brief selling pressure after climbing all the way to $152 mark. It recently broke the short-term support level at $145. If the price manages to surge and stay above $145 level, then it will likely re-test $152 resistance level. Breaking above this level, will likely see price testing $162 resistance level. However, if the price falls below $141 level, then it will likely test $130 support level.
Read more: https://thenewscrypto.com/solana-faces-brief-selling-pressure-after-failing-to-clear-152-mark/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
