Toncoin (TON)
Toncoin experienced a second consecutive day of decline on Friday, with bears pushing the cryptocurrency dangerously close to breaking below the $2.00 level.
After reaching a high of $2.17 during yesterday’s trading session, TON/USD dropped to an intraday low of $2.07 earlier today.
This decline has kept toncoin near its one-week low and in proximity to a significant support level at $2.00.
One factor preventing TON from falling below this level is the 14-day relative strength index (RSI), which currently stands above its own floor at 50.00.
If this support level is breached, it is highly likely that bearish sentiment will intensify, potentially leading traders to target a lower support level at $1.90.
Solana (SOL)
Solana (SOL) saw minor gains earlier in the day, as the token traded close to its one-year low above $33.00.
SOL/USD reached a peak of $33.30 during today’s session, following a drop to $30.80 on Thursday.
However, these early gains have since faded, and the world’s seventh-largest cryptocurrency is currently trading at $32.37.
The 14-day RSI chart shows a slight rise above its floor at 74.00, with the current reading at 74.43.
If bulls manage to sustain this level, there is a good chance that solana could rally towards the $35.00 mark once again.
Hot Take: Toncoin Slides While Solana Shows Signs of Stability
Toncoin experienced a decline for the second day in a row, nearing a breakout below $2.00, while solana demonstrated resilience and maintained stability around the $33.00 mark.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.
