Solana (SOL) price is trading below $130 at the time of writing on Thursday, after being rejected at the upper boundary of its falling wedge pattern. The broader market weakness following the Federal Reserve’s hawkish rate cut has added to downside momentum.
At first glance, the inflation data from China published this morning suggests that deflationary pressure appears to be easing. At least consumer prices rose at an annual rate of 0.7%, which is significantly faster than recently (0.2% in October).
Terra Luna Classic (LUNC) is showing renewed strength, trading above $0.000061 at the time of writing on Wednesday, up more than 22% this week. Rising net inflows, growing open interest, and optimism surrounding the upcoming network upgrade are further fueling the bullish momentum.