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Bears are again more powerful than bulls, according to CoinStats.
SOL/USD
The price of Solana (SOL) has dropped by almost 3% since yesterday.
On the hourly chart, the rate of SOL is approaching the local support of $181.92. If its breakout happens, there is a high chance of seeing a test of the $180 area by tomorrow.
On the longer time frame, the price of SOL is breaking the $183.19 level.
If the daily bar closes below it and without a long wick, the accumulated energy might be enough for a more profound decline to the $170-$175 zone.
From the midterm point of view, the situation is also bearish. If the weekly candle breaks the support of $173.43, traders may witness an ongoing drop to the $150 area.
SOL is trading at $182.24 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team