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.
Most coins are bouncing back after a sharp market drop, according to CoinStats.
SOL/USD
The rate of SOL (SOL) has increased by 7.14% over the last 24 hours.
Despite today's sharp rise, the price of SOL still looks bullish on the hourly chart. If the daily bar closes near the $98.85 level or above, the upward move may continue to the vital zone of $100 tomorrow.
On the bigger time frame, it is too early to make bullish predictions as the rate of SOL remains in the wide channel.
Only if the price returns to the $110 area is there a possibility of a resistance breakout followed by a blast to $130.
From the midterm point of view, one should pay attention to the candle closure in terms of yesterday's bar peak. If it happens above it, the rise can lead to a test of the $110-$120 area.
SOL is trading at $99.44 at press time.
Valeria Blokhina
Alex Dovbnya
