Crypto markets were down across the board on Tuesday, as bears re-entered the market, following strong gains on Monday. SOL was one of the tokens to fall, as it lost just over 10% of its value. NEAR also slipped by over 10% during the session.
Solana (SOL)
SOL was one of the most notable tokens to fall during today’s session, as crypto markets fell victim to the latest bearish wave.
The world’s ninth-largest cryptocurrency dropped to an intraday low of $48.29 on Tuesday, following a peak of $54.25 the day before.
As a result of this move, SOL/USD fell marginally below its support level at $48.50, as bears triumphed for a second day in succession.
Prices of the solana token have now been consolidating for the past twelve days, following strong declines to start the month.
Looking at the chart, the Relative Strength Index (RSI) is currently tracking at a resistance point of 36.45, which hasn’t been truly broken since May 3.
As of writing, the index resides at 34.64, with its supp
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