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 of the coins are in the green zone today, according to CoinMarketCap.
SOL/USD
Solana (SOL) is one of the biggest gainers today, going up by 8.83%.
On the hourly chart, the price of SOL might have set a local resistance level at $106.40. At the moment, one should pay attention to the daliy candle closure.
Denys SerhiichukIf it happens near that mark, one can expect a breakout, followed by a move to the $107-$108 zone.
From the bigger time frame, the situation is less bullish. The rate is trading far from the main levels, which means that neither bulls nor bears have seized the initiative yet. In this case, sideways trading in the area of $100-$110 is the more likely scenario until the end of the week.
The price of SOL is rising after the last bar closure. If the current candle closes with no long wick, the upward move may lead to the test of the $120 zone next week.
SOL is trading at $104.74 at press time.
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya