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All of the top 10 coins are back to the red zone today, according to CoinMarketCap.
SOL/USD
The price of Solana (SOL) has fallen by 4.88% over the last 24 hours.
On the hourly chart, the rate of SOL is going down after a false breakout of the local resistance of $171.84.
If bulls cannot seize the initiative, one can expect a support breakout, followed by a test of the $165 mark.
On the longer time frame, one should focus on the daily candle's closure in terms of the $168.71 level. If the situation does not change by the end of the day, there is a high chance of seeing an ongoing correction to the $160 area.
From the midterm point of view, the rate of SOL is far from key levels. If the bar closes near its low, traders may witness a test of the $150-$160 zone soon.
SOL is trading at $168.17 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team