Ethereum

Solana

<ul>
 <li><strong>At the time of writing, SOL is trading at $68.92, down 5.05% in the last 24 hours.</strong></li>
 <li><strong>If the price manages to go above $72.3 level, then it will likely surge further to test $73.7.</strong></li>
</ul>
<p>Solana Saga phone sales on eBay have recently reached $5,000, which is far more than the original retail price, indicating an exceptional spike in the market.&nbsp;</p>
<p>The anticipated profitable airdrops in the future and the general uproar around BONK, a memecoin based on <a href="https://thenewscrypto.com/solana-faces-brief-correction-after-failing-to-clear-above-80/" target="_blank" rel="noopener noreferrer nofollow">Solana</a>, are the main factors propelling this demand and value boom. The Solana Saga phone wasn’t very popular at first. But then traders saw a chance for arbitrage, and the tables turned.&nbsp;</p>
<p>In terms of overall DEX volume over the last day, DefiLlama data shows that Solana is getting closer to displacing Ethereum. During the last 24 hours, <a href="https://thenewscrypto.com/ethereum-breaks-below-key-support-level-as-bears-dominate/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> amassed $945.32 million, whereas Solana recorded $940.78 million, placing second, according to the statistics. There was a weekly change of 37.10% for Solana and a decline of about 4.64% for Ethereum as of this writing.</p>
<h3 class="wp-block-heading" id="h-bears-continue-domination">Bears Continue Domination</h3>
<p>Solana was unable to go higher and was rejected at the $78 resistance level. As SOL’s rising impetus is fading, bears seem to have taken the lead. After suffering many price drops, the Solana price broke below the critical $70 resistance level. In addition, the SOL token’s value has dropped by more than 5%, indicating that there is less demand for purchasing on the market.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/12/SOL_7D_graph_coinmarketcap-8.png" alt="" class="wp-image-87676" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/SOL_7D_graph_coinmarketcap-8.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/12/SOL_7D_graph_coinmarketcap-8-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>At the time of writing, SOL is trading at $68.92, down 5.05% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 32.83. If the price manages to go above $72.3 level, then it will likely surge further to test $73.7 resistance level.</p>

Solana Falls Below $70 Level Amidst Severe Selling Pressure

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TheNewsCrypto

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