Solana Price Takes Hit as Bears Gain Traction in Crypto Market

Solana's price has dropped by 5% in recent hours, with the cryptocurrency currently trading at $77.40.

The market capitalization of Solana stands at $44.97 billion, while its daily trading volume is around $2.65 billion.

According to Coinglass data, there was a liquidation of $23.98 million in the last 24 hours.

Technical analysis suggests that Solana's price may continue to fall towards the $76 support range, potentially triggering a 'death cross' and pushing the price down to test the $74 zone.

However, if there is a bullish reversal of momentum, Solana's price could jump to challenge the immediate resistance level at $78.