Solana
Solana Price Consolidates Near $140 Amid Lower Trading Volume By The News Crypto
Crypto News –
- At the time of writing, SOL is trading at $139.84, up 0.98% in the last 24 hours.
- If the price falls below the $134 level, it will likely decline to the $129 support level.
Anatoly Yakovenko, co-founder of , has once again sparked controversy by criticizing the US government’s handling of cryptocurrency legislation. Amid the current turmoil in the cryptocurrency market, Yakovenko took to the X platform to voice his concerns. He compared the government’s regulatory approach to the disarray in the healthcare sector.
Due to equally intense buying and selling pressure, Solana’s short-term price action has been very volatile. As a result, the price has become trapped in a price range.
Poor performance
The bulls were able to avoid a drop below $133 thanks to the strong base provided by the bulls. Even though they were unable to push the levels above the range. There has been a lot of price volatility recently, but the fact that Solana is still trading in a positive range gives investors reason to be optimistic.
Since July 3, SOL has failed to close above $145. The overall market cap of the cryptocurrency sector has fallen significantly over the past week, which can be partly attributed to the decrease in interest in cryptocurrencies, which may explain this poor performance.
At the time of writing, SOL is trading at $139.84, up 0.98% in the last 24 hours according to data from CMC. Moreover, the trading volume is down 49.72%. If the price manages to break above the $142 level, it will likely test the resistance level at $146. However, if the price drops below the $134 level, it will likely decline to the support level at $129.