The News Crypto -
- At the time of writing, SOL is trading at $69.68, down 2.57% in the last 24 hours.
- If the price manages to go past $72.1 level, then it will likely test $74.6 resistance level.
The co-founder of Solana, Anatoly Yakovenko, recently reflected on the path that culminated in the establishment of Solana, a cryptocurrency project with a value more than $30 billion.
The Twitter post by Yakovenko commemorates the six-year anniversary of his fundraising efforts for Solana (SOL), the project he started on December 9. Yakovenko brought attention to the difficulties he had in the early stages of obtaining sufficient funding to support Solana’s development.
Crypto funds saw $43 million in net inflows for the week ending December 9th, according to the numbers released by Coinshares. There seems to be less interest in the current pricing, given this is a significant drop from previous weeks. This change is a result of investors being more risk-averse after the most recent rally and hedging their bets by establishing short positions.
Major Correction
Immediately after the opening of Asian markets on Monday, a massive wave of cryptocurrency sell-offs happened. As investor confidence plummeted, major cryptocurrencies saw a sharp drop in value. In recent days, some experts have forecasted a decline in cryptocurrency prices. Traders anticipated a pullback in the cryptocurrency market as a result.
At the time of writing, SOL is trading at $69.68, down 2.57% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 34.62%.
Source: CoinMarketCap
If the price manages to go past $72.1 level, then it will likely test $74.6 resistance level. However, if the price falls below $68.1 then the price will likely decline further to test $67.2 support level.
This article was originally published on thenewscrypto.com
