- Solana (SOL) faces selling pressure, testing key support levels around $180.
- Cardano (ADA) shows strength with rising volume, targeting resistance at $0.810.
- SOL’s struggle could lead to further downside, while ADA targets higher levels.
The battle between Solana (SOL) and Cardano (ADA) for dominance in the smart contract space continues to intensify. These two platforms compete to provide fast, secure, and scalable solutions for decentralized applications.
Recent market movements indicate diverging trends for both assets, with SOL facing downward pressure while ADA gains momentum. Investors are closely watching these price movements to assess their potential in the evolving crypto landscape.
Solana (SOL) Faces Selling Pressure
Solana’s price has struggled, reflecting a 4.04% decline in the last 24 hours, settling at $184.75. The market cap currently stands at $90.23 billion, with trading volume surging by 84.93% to $3.09 billion. The downward trend suggests increased selling pressure, possibly driven by profit-taking or shifting market sentiment.
The price has fluctuated between a high of $192.53 and a low near $180 before slightly recovering. If SOL fails to regain momentum, it may test lower support levels. The immediate resistance stands at $192.50, a level where the price previously reversed. If SOL can reclaim this mark, it may push toward $195-$200.
However, if the price drops below $180, the next critical support lies in the $175-$178 range. A sustained decline could lead to further downside, reinforcing bearish market sentiment.
Cardano (ADA) Gains Momentum
While SOL faces downward pressure, Cardano has shown strength, climbing 2.80% in the last 24 hours to reach $0.7963. ADA’s market cap is now $28.03 billion, with a 52.64% increase in 24-hour trading volume, reaching $695.3 million. The rising volume suggests growing investor interest, contributing to the token’s bullish trajectory.
ADA’s price dipped to $0.7749 earlier in the day but rebounded strongly, surpassing $0.80 before experiencing a slight pullback. The key resistance level is at $0.810, while stronger resistance lies between $0.825-$0.830.
If ADA sustains its upward trend, it could test these higher levels soon. On the downside, support remains at $0.775, with additional protection in the $0.760-$0.765 range if selling pressure increases.
