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.
Sellers keep pushing coins to new local lows, according to CoinStats.
SOL/USD
The price of Solana (SOL) has declined by 3.19% since yesterday.
On the hourly chart, the rate of SOL might have found a local support level of $153.33. If the daily candle closes far from it, there is a chance to see a bounce back to the $158-$160 zone by tomorrow.
On the bigger time frame, the picture is less clear. If the daily bar closes far from its low, a further drop can be posponed. In this case, sideways trading in the range around $160 is the more likely scenario.
From the midterm point of view, the price of SOL is in the middle of a wide channel, between the support of $116 and the resistance of $188.89.
Denys SerhiichukAs none of the sides is dominating, one can expect ongoing consolidation in the area of $140-$160.
SOL is trading at $155.79 at press time.
Alex Dovbnya
Valeria Blokhina
Vladislav Sopov
Dan Burgin
U.Today Editorial Team