On February 3, the stock market dropped to a three week low Feb. 10 as the momentum in crypto markets remained bearish. At the time of writing, the global market cap has dropped by 4.23%, with bears gaining strength. Cardano has also suffered, declining as much as 8%.
Solana (SUN)
Solana (SOL) costs dropped throughout the session, apparently as the bears managed to regain control of the market.
After a peak of $22.90 on Thursday, SOL/USD reached an intraday low of $20.20 earlier in the session.
This marks the token’s lowest value in more than a decade, since it hit the $20.00 mark on January 19.
The 14-day RSI has been in a continuous decline since it reached a high of 87.67 on January 13.
The index is currently at 44.21, its lowest level since January 2, when SOL was valued at less than $10.00.
While this may not appear beneficial in the short-term, it could be seen as a sign that prices are heading in the right direction for longer-term holders.
Cardano (ADA)
Cardano (ADA) extended its recent sell-off, dropping for the third consecutive session.
ADA/USD plunged to $0.3558 on the intraday after peaking at $0.3896 on Thursday.
As a result, ADA plummeted to its lowest level since January 25, breaking below a support level of $0.3590 in the process.
