Having failed to break its previous high for the year, the price of Solana has continued to move downward. From the height of $118.88, the coin, which is currently ranked 5th in the crypto space with a total supply of 440,961,455 SOL and a market capitalization of $58.2 million, has made a drop of over 25% and is not showing any signs of stopping. As of the time of writing, the price of SOL was up by 2.76% and trading around $102.63, below the 100-day moving average in the last 24 hours. Meanwhile, in the daily timeframe, the price has dropped a bearish candlestick, indicating that the price is still bearish. The moving average indicator generally is used to determine the trend of an asset, which could be an uptrend or downtrend. Since the price of Solana is trading below the 100-day moving average, could this mean that the price has changed from an uptrend to a downtrend? Related Reading: Pro-Ripple Lawyer Tags Poor XRP Price Performance As Unnatural, Rally Imminent? Solana On The 4-Hour Chart A technical examination of the chart f ..
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