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The market fall has not lasted long, according to CoinStats.
SOL/USD
The price of Solana (SOL) has risen by 0.42% over the last day.
On the hourly chart, the rate of SOL might have set a local resistance of $119.94. If the daily bar closes far from that mark, there is a chance to see a test of the support of $114.90 by tomorrow.
On the bigger time frame, none of the sides is dominating, as the price is within yesterday's bar.
Denys SerhiichukIf the situation does not change, ongoing sideways trading in the narrow range of $115-$125 is the most likely scenario.
From the midterm point of view, the picture remains bearish as the price keeps trading near the support of $110. If its breakout happens, traders may witness a test of SOL at the vital $100 mark.
SOL is trading at $117.50 at press time.
Vladislav Sopov
Dan Burgin