The SOL was trading lower at the start of the weekend due to a drop in prices on Saturday. The bears have re-entered the market after a week of consolidation. ATOM was one of the biggest movers, down 10%.
universe (atom)
After climbing more than 15% on Friday, ATOM had one of the biggest losses on Saturday as prices fell by more than 10%.
ATOM/USD plunged to an intraday low of $10.82 after yesterday’s high of $12.12 to start the weekend.
The move came as ATOM pulled back towards its bottom of $9.90, as some were preparing for a rally towards $15.00.
Instead, however, we have seen ATOM move back to a ten-day low, as bearish pressure drove the price down.
Looking at the chart, the downside is as the Relative Strength Index (RSI) has failed to break out of the 38 range.
The market will now continue to move higher around the current support point, before any further rally or potential downside.
solana
SOL fell to ninth place on the list of most valuable crypto tokens in the world, as the markets were once again in the red to start the weekend.
After peaking at $52.11 on Friday, the SOL turned lower, reaching an intraday low of $48.05 in the process.
ADA ranked Leapfrog Solana as the 8th most valuable coin in Saturday’s sell-off, as the price is down more than 7% in today’s session.
Overall, the price is now trading near the long-term support level of $47, which is close to a ten-month low.
Looking at the chart, the 14-day RSI is now hovering around 34, which is below the 36 resistance point.
If the strength of the price continues to track this level throughout the weekend, it is unlikely that we will see any significant change in the price.
Do you expect SOL to close the weekend trading above $60? Let us know your thoughts in the comments.
image credit: Shutterstock, Pixabay, WikiCommons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation or recommendation or endorsement of an offer to buy or sell any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.
