Solana (SOL) price edges lower as the fresh trading week begins. SOL has tested the lower trading range of the consolidation begins on January 22. On the weekly chart, SOL price has tested multiple weekly support around $0.87 and could drop toward the lows last seen in August at $66.21.
Solana’s (SOL) price continues to trade lower on Monday.
Investors expect a turnaround from the critical support level.
However, the downside risk remains intact below $80.0.
At the time of writing, SOL/USD is trading at $0.87.99, down 3.40%. As per the CoinMarketCap, the 8th largest cryptocurrency 24-hour trading volume stands at $2,233,525,534 with 60% gains.
SOL trades near critical level
On the daily chart, Solana’s (SOL) price action flipped near the resistance-turned-support level around $88.0. The price surged 51% from the lows of January low of $80.79. Further, after the swing highs made on February 7 at $122.0 SOl makes a healthy retracement near the reliable support.
Source: Trading View