SOL price has declined in the last 24 hours.has experienced some recent positive price movements, and although the increases were slight, they impacted its market capitalization.
There has been a slight dip recently, but if the momentum picks up again, it could establish a new market cap range.market cap showed it started on 5th June at around $79 billion. This increase was due to the recent uptrend in SOL’s price.had crossed the $80 billion mark. This was the first time in weeks it entered the $80 billion range, with the previous instance being in May.However, as of this writing, the market cap has dropped below the $80 billion range again, currently sitting around $79.
At the end of trading on 5th June, SOL saw an increase of a little over 1%, trading at around $173.5. As of this writing, the price of Solana has fallen to around $172 after a decline of less than 1%. This seemingly minor drop resulted in nearly $1 billion being wiped off its market cap.Analysis of the chart showed that the trend was still above the short moving average , which served as immediate support at around the $160 and $154 price levels.
Additionally, an analysis of Solana’s Relative Strength Index indicates that it remains in a bull trend. As of this writing, the RSI is above 60, suggesting a continued bullish outlook.Solana volume declines… for now. The chart indicated that the volume rose to over $2.6 billion yesterday, a notable rise given the significant decline at the beginning of the month.