Solana ($SOL) Sees Sideways Price Movement Amid Cautious Market Sentiment

Solana ($SOL) is witnessing a slight decline in terms of price, as the market data reveals. At present, Solana ($SOL) is changing hands at $168.60. This price level indicates a minor 0.21% decrease over the past 24 hours. Simultaneously, the market capitalization of Solana ($SOL) has reached $87.64B. Additionally, the Solana’s circulating supply is up to 519.81M $SOL, whereas the total supply is 600.94M.

Solana’s 24-Hour Volume Plunges by 35.47%, Highlighting Short-Term Dip

In line with the new market data, Solana ($OL) has experienced an approximate 35.47% downturn in the case of 24-hour trading volume. As a result of this, its present twenty-four-hour trading volume accounts for $2.31B. This dip could signify a reluctance or caution among the investors amid the wider market worry. Moreover, the fully diluted valuation of the popular crypto coin has touched $101.32B spot.

The present price movement of Solana ($SOL) highlights that its price is seeing stability around the $168-$169 range. Nevertheless, the overall downturn is a result of the prevailing uncertain sentiment. In addition to this, the Solana (SOL) investors are reportedly becoming more and more selective about $SOL allocations for crypto portfolios.

This has paved the way for a notable plunge in Solana’s volume. However, this appears to be a short-term decrease. Amid the increased speculation of an approaching altcoin season, Solana (SOL) is likely to make significant progress.

Despite Momentary Pullback, SOL’s Fundamental Stay Strong

At the moment, Solana ($SOL) is going through a provisional pullback while the fundamentals of the prominent crypto coin remain intact. Market participants need to keep assessing the risk exposure, particularly in line with the ongoing concerns. Moreover, long-term $SOL holders might consider this an accumulation phase to maximize their yields in the case of a bull run.