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Most of the coins are facing a bounce back on the market, according to CoinStats.
SOL/USD
The price of Solana (SOL) has risen by 4.05% since yesterday.
On the hourly chart, the rate of SOL is growing after a false breakout of the local support level of $170.14. If the daily bar closes near or above the resistance, the upward move may continue to the $180 zone.
On the bigger time frame, traders should pay attention to yesterday's bar peak at $175.5. If the candle closes above it, there is a chance to see a further rise to the $185-$190 area within the next few days.
From the midterm point of view, the rate of SOL is rather more bearish than bullish as it is located closer to the support.
Denys SerhiichukThus, if buyers lose the interim level of $170, the correction may lead to the test of $150-$160 range. Such a scenario is relevant until the end of the month.
SOL is trading at $173.40 at press time.
Alex Dovbnya
U.Today Editorial Team
Vladislav Sopov
Dan Burgin