SOL price struggles as $30 support failed to hold, with many buyers sweating on their open SOL position. SOL price breaks below 50 and 200-day Exponential Moving Average; the price continues its range around the $30 mark. The price of SOL could restest $24-$16 if the price maintains a bearish structure. The price of Solana (SOL) has struggled recently to reclaim its bullish strength against tether (USDT) but was unable to as the price hit a new fresh rock. The crypto market faced a new drawback as Bitcoin (BTC) price dropped from a region of $19,000 to $18,100 as the Consumer Price Index (CPI) suggested an increase in inflation affecting the price of BTC negatively with Solana (SOL) not left out of the equation as price lost its key support. (Data from Binance) Related Reading: Bitcoin Dominance Rises As Market Turns Red, What Does This Mean For Altcoins? State Of The Market After exhibiting relief bounces and the crypto market cap appearing poised to rally to a high with the hopes of altcoins joining the party, this was cut short as many altcoins experienced a price decline, with many losing key support and more at risk of falling as the price of Bitcoin Dominance (BTC.D) continues to rise. Solana (SOL) Price Analysis On The Weekly Chart. The first week of October saw many altcoins showing significant strength as the rally, with others producing double-digit gains combined with the fact that BTC.D was down at the time. As a r...
