Solana’s native token, SOL, has seen a 9% decline on November 26, amidst significant corrections across the cryptocurrency market, marking its fourth consecutive day of losses at $230. This downturn follows an overheated market, highlighted by Bitcoin's failure to break the $100K resistance and a 5.8% decrease in its value. As a result, the total crypto market cap has dropped by 5%, now resting at $3.2 trillion. Additionally, the market capitalization of Solana-based tokens fell dramatically, from $347.8 billion to $228.8 billion, indicating a strong sell-off. Analysts note a bearish divergence in SOL's price and Relative Strength Index (RSI), revealing potential weakness in the uptrend. This aligns with the opportunity for short-term price corrections, estimating possible drops towards the $210 or even $185 support levels.

Source 🔗