The Solana price falling for four consecutive days gave a massive breakdown from the $26.5 neckline support of descending triangle pattern. This breakdown aligned with the FTT sell-off and caused a sharp decline in SOL/USDT pair. Furthermore, the ongoing downfall breaks the $17 support, offering a selling opportunity for interest traders.
Key points
The Solana price breaks another support of the $17 mark
The SOL price downtrend will remain intact until the resistance trendline is intact.
The 24-hour trading volume in the Solana coin is $6.1 Billion, indicating a 41% gain.
Source-Tradingview
The Solana coin price continues to crash following the clash with FTT over the week resulting in a FUD-driven high momentum price trend. Currently, the market price trades at $16.4 with a 32.5% fall over the last 24 hours, with a spike in trading volume reflecting increased selling pressure.
Monitoring the daily technical chart, the downfall of the descending triangle pattern released the stor
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