{"id":494819,"date":"2022-07-04T08:09:25","date_gmt":"2022-07-04T08:09:25","guid":{"rendered":"https:\/\/wncen.com\/?p=494819"},"modified":"2022-07-04T08:09:25","modified_gmt":"2022-07-04T08:09:25","slug":"solana-stuck-below-33","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana-stuck-below-33\/","title":{"rendered":"Solana (SOL) Stuck Below $33 In Past Days As Bearish Pressure Still Intact"},"content":{"rendered":"

The price of Solana (SOL) has been unable to break out of a tight range between $32 and $33 during the past few days.<\/p>\n

As of this writing, SOL is trading at $32.72, down 16.5% in the last seven days – and around the same level it was trading Friday, data from Coingecko show, Monday.<\/p>\n

According to analysts, the lack of price movement in Solana suggests that the market is uncertain about the direction of the cryptocurrency.<\/p>\n

Suggested Reading | Litecoin (LTC) Drops Below $50 After Consistent Bearish Squeeze<\/a><\/em><\/strong><\/p>\n

Solana Can’t Extricate Itself Past $33<\/h2>\n

The Solana coin’s retracement phase entered the red zone this week, as purchasers lost almost 20% of their investment. The bearish trend appears unbroken as prices have been unable to surpass the $33 resistance level.<\/p>\n

The subsequent level of support is $30, where prices found support earlier this week. If this level is broken, Solana prices could tumble to $28.<\/p>\n

The bears were able to close a daily candle below the 20-day simple moving average (SMA), which also worked as short-term resistance, on Saturday evening. On the same night, Solana’s market capitalization again fell below $11 billion, which translates to\u00a0a 10 percent decline.<\/p>\n

Bears are active near the $43 resistance level, while the bulls are seeking to post a bullish comeback for the Solana currency. In response to the roller coaster ride, the bulls were twice rejected near the point of resistance.<\/p>\n

<\/p>\n

SOL total market cap at $11.23 billion on the daily chart | Source: TradingView.com<\/a><\/pre>\n

SOL Shed Over 25% Of Its Value In Past Week<\/h2>\n

Likewise, Solana’s trading volume has been rather modest and stands at $620,821,685 at present. The bulls have attempted to drive prices higher, but have thus far been unsuccessful.<\/p>\n

SOL has lost more than a quarter of its value in the previous week. This downturn began when the price was repelled at $44, a significant resistance level.<\/p>\n

The increased sell volume is placing a severe burden on the bulls, who now seem\u00a0absent from the market. Market observers anticipate a reaction if the price approaches a major support level.<\/p>\n

Suggested Reading |\u00a0Dogecoin (DOGE) Could Use Some Lift \u2013 An Elon Musk Tweet, Perhaps?<\/a><\/em><\/strong><\/p>\n

Meanwhile,\u00a0Crema Finance joins the list of protocols running on the Solana blockchain that have been compromised.<\/p>\n

In the early hours of Sunday, the liquidity protocol took to Twitter to warn users that all network activity had been canceled as a result of the\u00a0attack.<\/p>\n

This year, the Solana network has been plagued by a series of setbacks\u00a0and chain exploits. Moreover, the network’s protocols have degraded.<\/p>\n

According to a survey by Atlas VPN, the Solana ecosystem suffered five hacking incidents costing $397 million in the first three months of this year.<\/p>\n

Featured image from Crypto News AU, chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"

The price of Solana (SOL) has been unable to break out of a tight range between $32 and $33 during the past few days. As of this writing, SOL is trading at $32.72, down 16.5% in the last seven days – and around the same level it was trading Friday, data from Coingecko show, Monday. According to analysts, the lack of price movement in Solana suggests that the market is uncertain about the direction of the cryptocurrency. Suggested Reading | Litecoin (LTC) Drops Below $50 After Consistent Bearish Squeeze Solana Can’t Extricate Itself Past $33 The Solana coin’s retracement phase entered the red zone this week, as purchasers lost almost 20% of their investment. The bearish trend appears unbroken as prices have been unable to surpass the $33 resistance level. The subsequent level of support is $30, where prices found support earlier this week. If this level is broken, Solana prices could tumble to $28. The bears were able to close a daily candle below the 20-day simple moving average (SMA), which also worked as short-term resistance, on Saturday evening. On the same night, Solana’s market capitalization again fell below $11 billion, which translates to\u00a0a 10 percent decline. Bears are active near the $43 resistance level, while the bulls are seeking to post a bullish comeback for the Solana currency. In response to the roller coaster ride, the bulls were twice rejected near the point of resistance. SOL total market cap at $11.23 billion on the daily chart | Source: TradingView.com SOL Shed Over 25% Of Its Value In Past Week Likewise, Solana’s trading volume has been rather modest and stands at $620,821,685 at present. The bulls have attempted to drive prices higher, but have thus far been unsuccessful. SOL has lost more than a quarter of its value in the previous week. This downturn began when the price was repelled at $44, a significant resistance level. The increased sell volume is placing a severe burden on the bulls, who now seem\u00a0absent from the market. Market observers anticipate a reaction if the price approaches a major support level. Suggested Reading |\u00a0Dogecoin (DOGE) Could Use Some Lift \u2013 An Elon Musk Tweet, Perhaps? Meanwhile,\u00a0Crema Finance joins the list of protocols running on the Solana blockchain that have been compromised. In the early hours of Sunday, the liquidity protocol took to Twitter to warn users that all network activity had been canceled as a result of the\u00a0attack. This year, the Solana network has been plagued by a series of setbacks\u00a0and chain exploits. Moreover, the network’s protocols have degraded. According to a survey by Atlas VPN, the Solana ecosystem suffered five hacking incidents costing $397 million in the first three months of this year. Featured image from Crypto News AU, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":494822,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,1742,12837,83626],"class_list":["post-494819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-digital-currency","tag-sol","tag-solana"],"acf":[],"yoast_head":"\nSolana (SOL) Stuck Below $33 In Past Days As Bearish Pressure Still Intact<\/title>\n<meta name=\"description\" content=\"The price of Solana (SOL) has been unable to break out of a tight range between $32 and $33 during the past few days. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana (SOL) Stuck Below $33 In Past Days As Bearish Pressure Still Intact","url":"http:\/\/wncen.com\/news\/solana-stuck-below-33\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/solana-stuck-below-33\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Solana.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Solana.jpg?fit=1400%2C700"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","digital currency","sol","solana"],"dateCreated":"2022-07-04T08:09:25Z","datePublished":"2022-07-04T08:09:25Z","dateModified":"2022-07-04T08:09:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana (SOL) Stuck Below $33 In Past Days As Bearish Pressure Still Intact\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana-stuck-below-33\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana-stuck-below-33\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Solana.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Solana.jpg?fit=1400%2C700\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"digital currency\",\"sol\",\"solana\"],\"dateCreated\":\"2022-07-04T08:09:25Z\",\"datePublished\":\"2022-07-04T08:09:25Z\",\"dateModified\":\"2022-07-04T08:09:25Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Solana.jpg?fit=1400%2C700","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/494819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=494819"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/494819\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/494822"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=494819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=494819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=494819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}