One Cryptocurrency Trading Below the Resistance Levels- Solana (SOL)

Cryptocurrency Report.

One Cryptocurrency Trading Below the Resistance Levels- Solana (SOL)

11 July 2024

| Read Time :5:00 Mins

SOL

Investment Type

Crypto

Risk Level

Action

Rec. Price (US$)

Cryptocurrency Market Round-Up

Typically, cryptocurrencies are termed as digital currencies and use blockchain technology to record every transaction. Solana (SOL) is a blockchain platform designed to run decentralised, scalable apps thanks to its smart contract feature. SOL has a market capitalization of ~USD 64.85 billion (as per TradingView as of July 11, 2024).

Last week, the benchmark S&P Cryptocurrency Broad Digital Market (BDM) Index started on a negative note and maintained a bearish momentum for the entire week. The index declined by 336.20 points (~8.10%) to 3816.79 for the week ending July 05, 2024. In the current week starting July 08, 2024, the index is trading with positive momentum. Moreover, other major cryptocurrencies, such as Bitcoin and Ethereum, are witnessing positive momentum for the current week.

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