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Bit Analyst

01/01 02:39

Solana (SOL) dropped below $200 on December 19,

Solana (SOL) dropped below $200 on December 19, falling to $193 after dropping just over 6%. It fell to a low of $175 the following day before recovering to settle at $194. The following weekend saw SOL continue declining, dropping almost 7% on Saturday and 0.55% on Sunday to settle at $180. Despite the strong bearish sentiment, SOL started the previous week on a positive note, rising by 5.30% on Monday to settle at $189. The price continued to push higher on Tuesday, moving to $197 after an increase of almost 4%. With sellers active for around $200, SOL could only register a marginal rise on Wednesday. With buyers losing momentum, SOL was back in the red on Thursday, dropping 4.57% to $188.
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Sellers retained control on Friday as SOL dropped to $184 after a failed recovery. However, it registered an increase of over 6% on Saturday and moved to $195 before falling back in the red on Sunday and ending the weekend at $189. SOL experienced considerable volatility on Monday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as SOL rose by 0.72% and settled at $191. The current session sees SOL down by 1.33% and trading around $188. If selling pressure persists, SOL could drop to $180.
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