Solana

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Bitcoin

<p>Several critical stats soared in the last week, contributing to Solana’s NFT ecosystem’s flourishing. This occurred as the value of its native token dropped by more than 5% in the last 24 hours.</p> 
<p>According to CryptoSlam’s research, Solana’s NFT ecosystem saw development in many areas within the last week. Its NFT sales volume, for example, increased by almost 40%. Numbers of buyers and sellers followed a similar upward trend, growing by 62% and 71%, respectively.</p> 
<p>With BTC falling below the key $39,000 barrier for the first time in almost two months, the unpleasant price swings in the crypto market persist. Most altcoins have also taken a severe hit.</p> 
<p>After nearly two weeks of the spot Bitcoin ETFs launch in the United States, it’s reasonable to say that the approval by the SEC had very negative short-term repercussions for cryptocurrencies and the sector as a whole. </p> 
<h3 class="wp-block-heading" id="h-bears-domination">Bears Domination</h3> 
<p>A crucial support level may soon decide the near-term path of Solana (SOL), which has fallen from its recent peak. At the time of writing, Solana is trading at $81.14, down 5.14% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 60.54%. Amidst the ongoing downtrend, the price is down 30.12% in the last 30 days.</p> 
<div class="wp-block-image"> 
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  <img loading="lazy" decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2024/01/SOL_7D_graph_coinmarketcap-6.png" alt="" class="wp-image-90010" srcset="https://thenewscrypto.com/wp-content/uploads/2024/01/SOL_7D_graph_coinmarketcap-6.png 630w, https://thenewscrypto.com/wp-content/uploads/2024/01/SOL_7D_graph_coinmarketcap-6-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <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 price manages to go below $70.8 level, then it will likely fall further to test $61.1 support level. However, if the price manages to go above $95.2 then the price will likely climb further to test $103 resistance level.</p>

Solana Witnesses Severe Selling Pressure as Crypto Market Turns Red

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