DOGE and SOL made some notable moves on Monday as the crypto markets were hit by another red wave; DOGE fell to its lowest level since April 2021, while SOL also opened the week at a one-year trading near its lowest level in a year.
Solana (SOL)
The sell-off in SOL saw prices fall to their lowest level since last July as the crypto market fell overall.
The world’s ninth-largest crypto token fell more than 17% on Monday, hitting an intraday low of $26.45 in the process.
The drop came less than a day after prices traded almost $10 higher at $34.12, but SOL could not stay above $30 as the market deteriorated.
Overall, SOLANA has fallen for four straight days and is more than $120 cheaper than at the same point two months ago.
Despite this latest sell-off, the 14-day RSI has yet to reach a floor of 22 and is currently tracking at 26.60.
Reaching this floor could see SOL trading below $20 for the first time since last April.
Doge Coin (DOGE)
Meanwhile, DOGE is down over 17% today and is currently trading at its lowest level since last April.
DOGE/USD hit an intraday bottom of $0.05355 earlier in the week within 24 hours after trading at $0.06906.
Following a week-long consolidation at the start of June, DOGE began selling off last Wednesday as the market prepared to release inflation data.
The chart shows that these recent declines have pushed the Relative Strength Index to its weakest point ever.
At the time of writing, the RSI is tracking at 21.16, which is the most oversold price since the start of DOGE in 2015.
While many believe it can only go up from here, the bears will likely continue to liquidate their positions and drive prices lower.
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