Biggest Movers: SOL Hits 1-Month Low on Saturday, as UNI Extends Recent Declines
Solana fell to a one-month low to start the weekend, as cryptocurrency markets moved lower ahead of Christmas Day. Today’s drop saw the token fall for a fourth straight session, as market sentiment shifted bearish. Uniswap was also in the red on Saturday, with price falling for a second consecutive day.
Solana (SOL)
Solana (SOL) was in the red on Saturday, as prices moved lower for a fourth straight session.
SOL/USD slipped to a low of $11.24 in today’s session, which comes less than a day after the token was trading at $11.95.
Today’s drop saw solana fall to its lowest point since November 22, when price hit a low of $10.94.
SOL/USD – Daily Chart
As can be seen from the chart, Saturday’s decline came as the 14-day relative strength index (RSI) broke out of a floor at 34.00.
The index is currently tracking at 31.79, with the next visible point of support at the 29.90 level.
Should the RSI continue to head to this point, it is likely that solana will fall below the $10.94 level, which was last seen four weeks ago.
Uniswap (UNI)
Uniswap (UNI) also moved lower to start the weekend, as the token extended a recent bear run.
Following a high of $5.32 on Friday, UNI/USD fell to an intraday low of $5.20 on Christmas Eve.
The move led to uniswap landing on its long-term point of support, with bears likely to force a breakout as the weekend matures.
UNI/USD – Daily Chart
As of writing, the token remains marginally above its $5.20 floor, and is currently trading at $5.22.
Should this floor be broken, a possible target for sellers will possibly be a floor at $4.95, which was last hit in late November.
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Filed under: News - @ December 24, 2022 7:24 pm