Solana Price Analysis: SOL/USD retraces to $170 region and sets lower high

TL;DR Breakdown SOL/USD is trading bearishly on today’s Solana price analysis.The overall cryptocurrency market is trading within the bearish zone During press time, SOL/USD is trading at $180.  SOL/USD is trading bearishly on today’s Solana price analysis. This is after the coin underwent a bullish continues two days ago into the $220 region and corrected downwards to the $180 support during yesterday’s session. We expect the price action of SOL/USD to reverse in the course of the day and record some losses on the 24-hour chart.  The overall cryptocurrency market is trading within the bearish zone following a general market correction that saw Bitcoin plunge by 3.46 percent, Ethereum drop by 5 percent, and Solana crash by 12 percent. LUNA  emerged as the best performing cryptocurrency of the day after increasing by 33 percent.  Solana price movement in the last 24 hours: Solana pulled back to $170 According to the daily Solana price analysis, SOL/USD is trading within a broad bearish range of $170 – $193. The daily trading volume for the Layer 1 smart contracts solution token went down by 22 percent to a total of $7.44 billion. As of this writing, Solana trades at a market capitalization of $52.5 million.  SOL/USD 4-hour chart: SOL set to retrace? On our Solana price analysis chart for the 4-hour session, SOL/USD has retraced to the $170 region, but the bulls are now attempting to break ou...