Solana Price Analysis: SOL slowly retraces from $80, set to retest previous all-time high?

TL;DR Breakdown Solana price analysis is bearish for today.SOL/USD continued to retrace overnight.SOL is likely to see further downside today. Solana price analysis indicates bearish momentum to follow later today as the market still retraces from the $80 all-time high after bulls lost their momentum late last week. Therefore, we expect SOL/USD to see further retracement later today and potentially move to retest the $58 previous all-time high resistance as support next. Cryptocurrency heat map. Source: Coin360 The overall market traded in the green over the last 24 hours. Market leader, Bitcoin is up by 1.91 percent, while Ethereum is up by 2.22 percent. Meanwhile, Cardano (ADA) and Binance Coin (BNB) are among the best performers, with almost a 7 percent gain. Solana price movement in the last 24 hours: Solana starts to retrace from the $80 all-time high SOL/USD traded in a range of $71.55 – $77.43, indicating mild volatility over the last 24 hours. Trading volume totals $1.11 billion, down by 7.86 percent from yesterday. The total market capitalization trades around $21 billion, ranking the coin in 10th place overall. SOL/USD 4-hour chart: SOL aims to retest the $58 previous all-time high? On the 4-hour chart, we can see the Solana price retracing over the last 24 hours as bulls have lost their momentum.  SOL/USD 4-hour chart. Source: TradingView Solana price action saw an increase of over 250 percent over th...