Solana Price Risks Further Decline Below $73

Solana's price has been on the decline, slipping below $73 on August 3 as weak spot demand and sustained capital outflows raised the risk of a drop toward $70.

The token fell 1.47% to $72.55, placing it near its daily lower Bollinger Band. According to Chaikin Money Flow, selling pressure continued to outweigh buying demand, with a reading of -0.17.

Analyst Ted Pillows noted that the divergence between spot demand and price was a sign of weakness, and the 4-hour chart shows Solana below all four tracked moving averages.