SOL Falls to 12-Day Low as NEAR Drops Nearly 12% on Tuesday – Market Updates Bitcoin News
Solana fell for a second session in a row on Tuesday, pushing the token to its lowest level in twelve days. The move comes as sentiment in crypto markets turned bearish ahead of tomorrow’s FOMC meeting. The close protocol was also lower, falling by as much as 12% today.
Solana (SOL)
Solana (SOL) was in the red for the second consecutive day as prices moved closer to an important support level.
On Tuesday, SOL/USD fell to an intraday low of $35.28, the lowest level at which the token has traded since July 14.
The move pushed prices closer to a support point at $32.40, which has been in place since mid-June.
This latest downtrend in solana started exactly one week ago today, when the $47 price ceiling held firm, following an attempt by bulls to move to $50.
Taking a closer look at the chart, this spot was another ceiling as price strength ran into a resistance point at 65.20.
It was the highest the Relative Strength Index (RSI) had tracked since early April, with previous bulls unable to sustain the pressure needed for further rallies.
SOL/USD may head towards the $32.40 floor first, before we see bulls prepare to re-enter.
Near Protocol (NEAR)
Like solana, Near protocol (NEAR) extended recent losses during today’s session, with the token falling by as much as 12%.
After a high of $4.08 to start the week, NEAR/USD fell to a low of $3.59 earlier in the day.
This caused the token to fall to its lowest point since last Monday, June 18, when prices rose from a then floor of $3.50
Today’s sell-off has taken almost the protocol back towards this point, coming after last week’s failed breakout into the $5.00 region.
The price drop comes as the 14-day RSI fell below a separate floor of 46.80, and is now trailing at 44.99.
Overall, NEAR is now trading over 17% lower than at the same time last week, with all indications pointing to further declines in coming sessions.
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Will the near protocol move back towards $5 in the next few weeks? Let us know your thoughts in the comments.
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