Solana

<ul> 
 <li><strong>Due to the heavy selling pressure, SOL is down 8.44% in the last 7 days.</strong></li> 
 <li><strong>If the price goes below $20.4, then it will likely test $17.7 support level.</strong></li> 
</ul> 
<p>Solana co-founder Anatoly Yakovenko is citing an “obvious” use of cryptocurrencies and <a href="https://thenewscrypto.com/shibarium-blockchain-achieves-remarkable-1-million-blocks-feat/" target="_blank" rel="noreferrer noopener">blockchain</a> technology. Yakovenko cites straightforward payments as an example of an application of digital assets that may benefit everyone in a recent interview with Austin Federa, Head of strategy at the Solana Foundation.</p> 
<p>Solana validator indicators such as node count, Nakamoto Coefficient, node spread and diversity continue to rise, as reported in the latest Solana Validator Health Report.</p> 
<p><a href="https://thenewscrypto.com/solana-price-succumbs-to-bear-dominance-recovery-possible/" target="_blank" rel="noreferrer noopener">Solana</a> has come a long way in a short amount of time as a multi-client network; now, over 31% of stake is processed through the Jito Labs client, up from 0% a year ago. There are currently two more validator clients in the works. Since a performance decline in February 2023, many new practices in software upgrading processes have been introduced, and the network has had 100% uptime ever since.</p> 
<h3 class="wp-block-heading" id="h-further-decline-likely">Further Decline Likely?</h3> 
<p>At the time of writing, SOL is trading at $21.39, down 3.77% in the last 24 hours as per data from CMC. Moreover, the trading volume is down $3.61%. Due to the heavy selling pressure, SOL is down 8.44% in the last 7 days. The price has been creating lower lows and lower highs, pointing towards further decline.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img decoding="async" width="660" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/10/SOL_7D_graph_coinmarketcap-2.png" alt="" class="wp-image-83796" srcset="https://thenewscrypto.com/wp-content/uploads/2023/10/SOL_7D_graph_coinmarketcap-2.png 660w, https://thenewscrypto.com/wp-content/uploads/2023/10/SOL_7D_graph_coinmarketcap-2-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/10/SOL_7D_graph_coinmarketcap-2-150x81.png 150w" sizes="(max-width: 660px) 100vw, 660px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div> 
<p>If the bears continue domination and take the price below $20.4, then it will likely test $17.7 support level. Further downfall will likely result in price testing $14.6 key support mark. However, if bulls drive the price above $22.4 resistance level, then price will likely go all the way till $23.9 resistance area.</p>

Solana Price Succumbs to Heavy Selling Pressure; Further Decline Likely?

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