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SOL and BONK Price Analysis for January 16

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Tue, 16/01/2024 - 15:45
SOL and BONK Price Analysis for January 16
Cover image via www.tradingview.com

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The correction continues on the cryptocurrency market; however, there are some exceptions to this rule.

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Top coins by CoinMarketCap

SOL/USD

Unlike other coins, the price of Solana (SOL) has increased by 1.34% over the last day.

Image by TradingView

Despite today's rise, the rate of SOL has not accumulated enough energy for a bull run. Until the vital $100 zone is reached, there is a chance to see an ongoing drop. Likewise, traders may witness a test of the $85-$90 area soon.

SOL is trading at $96.35 at press time.

BONK/USD

BONK has not followed the growth of SOL, going down by 1.73%.

Image by TradingView

Today's slight move has not affected the overall teechnical position of BONK on the daily time frame. At the moment, one should focus on the nearest zone of $0.000013. If a breakout happens there, the correction may conitnue to $0.00001250.

BONK is trading at $0.00001380 at press time.

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