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SOL and LINK Price Analysis for November 8

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Wed, 8/11/2023 - 18:00
SOL and LINK Price Analysis for November 8
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Most of the coins remain in the green zone; however, there are some exceptions to the rule, according to CoinStats.

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Top coins by CoinStats

SOL/USD

The rate of Solana (SOL) has risen by 1.64% since yesterday.

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Image by TradingView

From the technical point of view, the rate of SOL is trading sideways as the price is in the middle of the channel, between the support of $38.41 and the resistance of $46.90. 

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As neither bulls nor bears have seized the initiative yet, consolidation in the area of $40-$45 is the more likely scenario for the next few days.

SOL is trading at $42.62 at press time.

LINK/USD 

LINK is more of a gainer than SOL, rocketing by 7.22%.

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Image by TradingView

Unlike SOL, the price of LINK keeps rising, setting new local peaks. If today's bar closes near the $14 mark, the rise may continue to the nearest resistance area of $15. Such a scenario is relevant until mid-November.

LINK is trading at $13.68 at press time.

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