![Solana (SOL) Prediction for August 1](https://u.today/sites/default/files/styles/736x/public/2024-08/s3471.jpg)
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The correction of most of the coins continues, according to CoinMarketCap.
![Article image](/sites/default/files/inline-images/top10_1269.png)
SOL/USD
Solana (SOL) is one of the biggest losers today, falling by 7.2%.
![Article image](/sites/default/files/inline-images/sol1_47.png)
On the hourly chart, the rate of SOL is coming back to the local support level of $166. If the daily bar closes around that mark, there is a chance to expect a breakout, followed by a move to the $164 zone.
![Article image](/sites/default/files/inline-images/sol2_42.png)
On the bigger time frame, traders should pay attention to the daily bar closure in terms of the nearest level of $165.42.
If the sellers' pressure continues, the accumulated energy might be enough for an ongoing decline to the $160 range.
![Article image](/sites/default/files/inline-images/sol3_42.png)
From the midterm point of view, the picture is quite similar. If the weekly candle closes below the $165 mark, there is a high possibility to see a test of the $160 area until mid-August.
SOL is trading at $167.42 at press time.