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Buyers are trying to control the initiative at the beginning of the weekend, according to CoinStats.
SOL/USD
The rate of Solana (SOL) has risen by 2.17% over the last 24 hours.
On the hourly chart, the price of SOL is in the middle of the local channel between the support at $129.60 and the resistance at $133.11.
As most of the daily ATR has been passed, there are low chances to see sharp moves by tomorrow.
On the bigger time frame, one should focus on the candle closure in terms of the nearest level of $134.28. If bulls' pressure continues, traders may witness a breakout, followed by a test of the $140 zone. Such a scenario is relevant until the end of next week.
From the midterm point of view, it is too early to make any far price predictions. The volume keeps falling, which means neither bulls nor bears have enough energy to seize the initiative. In this case, there are low chances to see sharp ups or downs shortly.
SOL is trading at $131.67 at press time.
Alex Dovbnya
Denys Serhiichuk
Tomiwabold Olajide
Gamza Khanzadaev