SOL, ADA drop to multi-week lows, as crypto markets plunge.
At the time of writing this, the global market cap is trading 4.23% lower, with bears recapturing sentiment. Cardano was also on the decline, falling by as much as 8% today.Solana prices plunged during today’s session, which comes as bears have seemingly recaptured market sentiment.
Following a high of $22.90 on Thursday, SOL/USD moved to an intraday low at $20.20 earlier in the session. This drop resulted in the token hitting its lowest point since January 19, when solana last collided with a floor at $20.00.Since hitting a peak of 87.67 on the 14-day relative strength index back on January 13, price strength has consistently declined.
As a result of this, the index is now tracking at 44.21, which is its weakest point since January 2 when SOL was under $10.00. Ultimately, this has its positives, as longer-term bulls may see this as a sign that prices are gradually moving in the right direction.
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