Solana breaches $141 support, showing a bearish trend amid market decline.
Whale activity includes significant transfers to Coinbase and Binance.
Solana, one of the leading altcoins, is facing an 8% decline amid an overall bearish market. The total cryptocurrency market cap has dropped by 4%, with Bitcoin, the dominant cryptocurrency, experiencing a similar 4% decline, currently trading at $58,601. Despite the downturn, Solana has shown resilience in the past week. After hitting a five-month low of $104, it quickly rebounded to $163 within two days, defying bearish pressure. However, the past 24 hours have seen the bears regain control, pushing Solana down to $140.
Last week was a significant period for Solana, as it reached a new all-time high against Ether on August 7, with traders speculating a potential breakout to $200, a level not seen since March. Additionally, Solana marked a milestone with the approval of its first spot ETF in Brazil, expected to launch within thr
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