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The long-term drop might have ended, according to CoinStats.
SOL/USD
The price of Solana (SOL) has risen by 10.18% over the last 24 hours.
On the hourly chart, the rate of SOL is near the resistance of $146.36. If a breakout happens, the rise is likely to lead to a test of the $150 zone soon.
On the bigger time frame, traders should focus on the daily candle closure in terms of the level of $146.08. If buyers can hold the initiative, the growth may continue to the $150-$160 range by the end of the week.
On the weekly chart, the rate of SOL has made a false breakout of the $116 level. However, bulls do not have enough energy for a reversal yet.
Denys SerhiichukIn this regard, consolidation in the area of $140-$160 is the more likely scenario.
SOL is trading at $145.02 at press time.
Alex Dovbnya
Valeria Blokhina
Vladislav Sopov
Dan Burgin
U.Today Editorial Team