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The market is mainly neutral on the last day of the week, according to CoinMarketCap.
SOL/USD
The rate of Solana (SOL) has declined by 0.38% since yesterday. Over the last week, the price has risen by 4.96%.
On the hourly chart, the price of SOL is on the way to the local resistance of $137. If a breakout happens, the accumulated energy might be enough for a further upward move to the $138 mark.
On the bigger time frame, the situation is less clear as the rate of SOL is far from the main levels. The volume is low, which means neither side has enough strength for a further move.
In this case, sideways trading in the zone of $135-$140 is the more likely scenario.
From the midterm point of view, bears are still more powerful than bulls as the price has not bounced off far from the support of $123.49. If a breakout happens, the accumulated energy might be enough for an ongoing decline to the $120 area.
SOL is trading at $136.97 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team