The recent ByBit hack seems to have sent the market into a downward spiral. But, if you look at it from a few weeks back, prices were already beginning to drop even before the news of the hack.
Solana follows Ethereum pretty closely, and considering the hard sell-off on ETH, SOL followed suit with a -26% drop over the past week.
This is quite a substantial correction, and considering the past 6 candles were red - it's likely that we can expect a bounce from next week, or at least a green candle. If we fail to bounce here, the short term is looking bleak for SOL:
____________________
SOLUSDT
Solana follows Ethereum pretty closely, and considering the hard sell-off on ETH, SOL followed suit with a -26% drop over the past week.
This is quite a substantial correction, and considering the past 6 candles were red - it's likely that we can expect a bounce from next week, or at least a green candle. If we fail to bounce here, the short term is looking bleak for SOL:
____________________
SOLUSDT 
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Related publications
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Discord Server
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.