Solana joins ranks of FTT, LUNA with SOL price down 97% from peak — Is a rebound possible?
SOL price jumped 20% after falling to its worst level since February 2021 with Solana's technicals suggesting that more upside is possible. Solana (SOL), the cryptocurrency once supported by Sam Bankman-Fried, pared some losses on Dec. 30, a day after falling to its lowest level since February 2021. Solana price down 97% from November 2021 peak On the daily chart, SOL's price rebounded to around $10.25, up over 20% from its previous day's low of approximately $8. SOL/USD weekly price chart. Source: TradingView Nevertheless, the intraday recovery did little to offset the overall bear trend — down 97% from its record peak of $267.50 in November 2021, and down over 20% in the past week. But while the year has been brutal for markets, Solana now joins the ranks of the worst-performing tokens of 2022, namely FTX Token and LUNA, which are down around 98%. FTT (red) vs. LUNA (green) vs. SOL (blue) performance since November 2021. Source: TradingView SOL price could recover 5...