Solana Price Analysis: SOL breaks below $70, further downside to follow?

TL;DR Breakdown Solana price analysis is bearish for today.SOL/USD continued declining yesterday.SOL broke past the $70 mark today. Solana price analysis indicates bearish momentum to follow over the next 24 hours as the market continues to decline after a retest of the $80 resistance earlier this week. Therefore, we expect SOL/USD to continue declining later today and continue its way to $68. Cryptocurrency heat map. Source: Coin360 The cryptocurrency market has seen strong bearish pressure over the last 24 hours. The market leader, Bitcoin, has lost 3.96 percent, while Ethereum has declined by 5.91 percent. Dogecoin (DOGE) is among the worst performers, with a loss of 9.6 percent. Solana price movement in the last 24 hours: Solana spikes to $66 SOL/USD traded in a range of $66.22 – $77.94, indicating strong volatility over the last 24 hours. Trading volume has increased by 0.96 percent and totals $1.787 billion. The total market capitalization trades around $19.64 billion, ranking the coin in 10th place overall. SOL/USD 4-hour chart: SOL set for further downside? On the 4-hour chart, we can see the Solana price continuing to decline as bears look to retest the $58 previous all-time high. SOL/USD 4-hour chart. Source: TradingView Solana price action saw a substantial advance over the last month. From the $22 swing low, set on the 20th of July, SOL/USD gained more than 250 percent. On the 16th of August, the previou...