Since yesterday, the crypto market has officially entered the fear zone, hinting at the investor’s hesitation in placing trade. The result of these hesitations is the cryptos struggling in the market, especially altcoins like Solana, Ethereum, XRP, and many others. Out of these, Solana, which ruled the market thanks to heavy demand for Solana tokens, is struggling. It is because the Solana price dropped below $130 earlier in the day, concerning the holders for its further drop amid its ongoing week-long downtrend.
Solana has lost more than 8% of its value in the last week, currently at $133.28 after a minor recovery. However, with the high selling pressure, the downtrend may continue if the SOL price fails to surge above the pivot at 139.42.
Three Reasons Why Solana Price Is Struggling
Solana’s was booming at the beginning of the year, as its price surged to a high of $202.87. However, with the bulls losing their grip on the market, most of the altcoins began to struggle, especiall
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