Crypto 380

06/09 11:22

Solana (SOL) continued its upward trajectory over

Solana (SOL) continued its upward trajectory over the weekend but has lost momentum during the ongoing session, starting the week in the red. SOL registered a sharp decline on Thursday, plunging to a low of $141 before recovering over the weekend to reclaim $150 and end Sunday at $152. If bullish sentiment returns, analysts predict a move to $160. However, if sellers retain control, the price could continue to decline and test $140.

SOL has traded downwards since being rejected from $180 and the 200-day SMA. The altcoin registered a sharp decline on Wednesday (May 28) and Thursday, falling to $166. Bearish sentiment intensified on Friday as the price plunged over 6%, slipping below $160 and settling at $156. The weekend saw volatility as sellers attempted to overwhelm buyers. However, SOL registered a marginal increase on Saturday and rose almost 1% on Sunday despite falling to a low of $150 to settle at $157. Price action turned bearish on Monday, and SOL registered a marginal decline to settle at $156, but not before dropping to a low of $151. The price raced to an intraday high of $164 on Tuesday but lost momentum, falling over 1% to $155.

Sellers retained control on Wednesday as SOL fell 1.29% to $153. Selling pressure intensified on Thursday as the price plunged nearly 6%, slipping below $150 and settling at $144. Despite the bearish sentiment, SOL recovered on Friday, rising 2.47% and settling at $147. Price action remained bullish over the weekend as SOL rose 1.51% on Saturday and 1.56% on Sunday to reclaim $150 and settle at $152. However, it is back in the red during the ongoing session, with the price down over 1%, as sellers look to drive it below $150.

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