Solana price down today: why?
Today the price of SOL, Solanas native cryptocurrency, is down. In reality the drop already started last Tuesday, and today it is simply continuing. It is therefore necessary to understand not only what the causes are, but also whether it is destined to end or not. The drop On Tuesday, May 12, a new decline in the price of SOL began, which in fact is still ongoing today. However, it should be specified that in the previous seven days it had risen from $84 to over $98, with +18% which, in a market phase like this, seemed a bit unusual. It should also be said that starting from February 12, that is three months earlier, it entered a sideways phase between $78 and $98, and this already explains many things. To tell the truth, starting from mid-April the lower line of the sideways movement rose, first to $79 and then to $82, and this makes the situation even clearer. In other words, this sideways phase is simply continuing. When on May 11 the price of Solana tested the $98 wall, not only did it fail to break through it, but it then almost immediately recorded a reverse rebound that is bringing it back towards the lower point of the