Solana Finds Support at $120. Bulls Race Against Time to Resume Uptrend

Solana is seeing significant buyback following two days of consecutive selloffs. It is up by over 5% in the last 24 hours.

The latest increase comes after the asset retraced but rebounded. SOL was not exempt from the large decline in the crypto market. It dropped to a low of $121 a few hours ago but recovered as the bulls rallied the market.

The global cryptocurrency market cap dropped below $2 trillion for the first time in more than three months. However, it is also recovering and is back above the mark.

Nonetheless, SOL is looking to erase all of its previous losses. For example, it retraced from a high of $153 to $138 on Wednesday. The day ended with the coin losing over 8%. The decline continued the next day, with a low of $127 following a failed recovery attempt. It also closed with losses exceeding 9%.

After its rebound, the bulls are looking to return prices above $150. However, fundamentals point an impending massive decline.

The post Solana Finds Support at $120. Bulls Race Against Time to Resume Uptrend first appeared on Cointab.