As a seasoned researcher with extensive experience in cryptocurrency markets, I have witnessed numerous trends and price movements throughout my career. Today, I see bears making their presence felt once again, according to CoinMarketCap. The overall market sentiment is bearish, and two popular tokens, Solana (SOL) and Toncoin (TON), are no exceptions.
Bears are coming back to the game, according to CoinMarketCap.
SOL/USD
Solana (SOL) is one of the biggest losers today, falling by 6.36%.
1. On the daily graph, the Solana rate has dropped following a misleading breakout above the resistance level at $188.89. Should buyers fail to take control, it’s likely that the price will retest the $170-$175 range by the week’s end.
SOL is trading at $181.15 at press time.
TON/USD
Toncoin (TON) is not an exception to the rule, going down by 2%.
Technical analysis suggests that TON‘s current trend may not be as bearish as SOL. Yet, it seems to lack substantial momentum required for significant growth at this point.
In this case, sideways trading in the area of $6.60-$6.80 is the more likely scenario.
TON is trading at $6.651 at press time.
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2024-07-30 17:57