Solana hits one-month low on Saturday as Uniswap extends recent declines

Solana fell to a one-month low to start the weekend, as crypto-currency markets declined ahead of Christmas Day. Today’s drop saw the token fall for a fourth consecutive session as market sentiment turned bearish. Uniswap was also in the red on Saturday, with the price falling for a second consecutive day.

Solana (SOL)

Solana (SOL) was in the red on Saturday as prices fell for a fourth consecutive session. SOL fell to $11.24 in today’s session, less than a day after the token traded at $11.95.

Today’s drop saw solana fall to its lowest level since November 22, when the price hit a low of $10.94.

As seen on the chart, Saturday’s decline came as the 14-day relative strength index (RSI) broke from a low at 34.00. The index is currently at 31.79, with the next point of support visible at the 29.90 level.

If the RSI continues to move toward this point, it is likely that solana will fall below the $10.94 level, which was last seen four weeks ago.

Uniswap (UNI)

Uniswap (UNI) also fell early over the weekend as the token extended its recent downtrend. After reaching a high of $5.32 on Friday, UNI/USD fell to an intraday low of $5.20 on Christmas Eve.

The move led to uniswap landing on its long-term support point, with the bears likely to force a breakout as the weekend approaches.

At the time of writing, the token remains slightly above its $5.20 floor and is currently trading at $5.22. If this floor is broken, a possible target for sellers may be a floor at $4.95, which was last reached in late November.