The price of Solana (SOL) hasn’t looked as strong as it should, as the price lost its key support and has tested this region on several occasions against tether (USDT). Although the uncertainty that surrounds the crypto market could be a huge factor as the price of Bitcoin (BTC) and other crypto assets such as Ethereum (ETH) have seen a slight setback in their price movement, the price of Solana (SOL) hasn’t seen its price show some sense of relief lately.
Most projects have not fared well in the bear market, as most have seen more than 50% price declines, discouraging most traders and investors from stockpiling these assets.
Despite massive support from great partnerships and a massive community that has continued to build and grow. The price of SOL has struggled to keep prices from falling as bulls were unable to defend key support zones.
The last rally for SOL was a spectacle for many as most investors and traders witnessed firsthand the price action showed by SOL rallying from a low of $2 to a high of $250.
After rallying to a high of $250, the price of SOL faced resistance to trend higher to a new all-time high as the price has struggled to replicate a glimpse of the rally as the price was rejected to a weekly low of $80.
The price of SOL bounced off from this low to a high of $137 but was rejected as price continued its decline to a low of $30 as price struggled to defend this region.