Crypto
SOL Price Slides as Weak Momentum Weighs on Solana
Solana's price has been declining due to weak momentum, trading at $72.94 after slipping 1.76% on the session.
The SOL/USD pair is currently below its key moving averages, including the MA-20 level at $73.16 and MA-50 at $73.78 on the hourly chart, as well as beneath the MA-200 at $86.49 on the daily timeframe.
Morgan Stanley's launch of Solana ETPs with staking rewards and a 0.14% fee on NYSE Arca has expanded regulated access for US investors, but this move has not been enough to stem the decline in price.