Solana Price Analysis — November 17

Along with the rest of the cryptocurrency market, SOL has suffered a defeating blow from bears since it printed a new record high at $260 last week. The fifth-largest cryptocurrency has slipped below the critical $216 support as bears keep their feet in the gas. With the price approaching the 209 support, we could see a rebound off the line, pending the efficacy with which the 200 SMA repels the price.

Meanwhile, my resistance levels are $216, $220, and $230, and my support levels are $209, $200, and $190.

Total Market Capitalization: $2.57 trillion

Solana Market Capitalization: $64.3 billion

Solana Dominance: 2.5%

Market Rank: #5