By the end of the day, bulls could not seize the initiative as the top 10 coins keep trading in the red zone.
SOL/USD
Solana (SOL) has followed the drop of other coins, losing 3.29% of its price share.
Solana (SOL) has continued the drop after yesterday's bearish candle. However, despite the drop, the price remains trading above the important level of $30, which means that there is still a chance for a bounce back.
At the moment, the more likely scenario is sideways trading in the range of $31-$32 as the altcoin needs more power for a further move.
SOL is trading at $31.51 at press time.
MATIC/USD
MATIC is more of a loser than Solana (SOL) with a drop of 4.26%.
On the daily chart, MATIC has bounced off the mirror level at $0.7945. If the candle fixes above it, one can expect a local correction. However, if this does not happen, the decline may continue to the $0.76 zone. Such a scenario is relevant until the end of the current week.
MATIC is trading at $0.7966 at press time.
Vladislav Sopov
Tomiwabold Olajide