Solana Decreases More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Solana (CRYPTO: SOL) has seen a decrease of 3.47% in its price over the last 24 hours, now at $185.29, despite a weekly uptrend of 6.0%. The trading volume dropped by 56.0%, while the circulating supply slightly increased by 0.16% to 444.31 million. Solana's market cap ranks #5 at $82.08 billion.
March 27, 2024 | 3:00 pm
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NEGATIVE IMPACT
Solana's price has decreased by 3.47% in the last 24 hours to $185.29, despite a 6.0% increase over the week. The trading volume has significantly decreased by 56%, and the circulating supply has slightly increased.
The short-term price decrease of 3.47% in Solana, despite its overall weekly gain, indicates a potential negative market reaction in the immediate future. The significant drop in trading volume suggests reduced investor interest or profit-taking, which could further pressure the price downward. However, the slight increase in circulating supply is not likely to have a significant impact on the price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100