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The market is neutral today, according to CoinMarketCap.
SOL/USD
The rate of Solana (SOL) has dropped by 0.62% over the last 24 hours.
On the hourly chart, the price of SOL is coming back to the local resistance of $178.72. If it breaks out, growth is likely to continue to the $180 mark tomorrow.
On the longer time frame, none of the sides is dominating as the rate is far from support and resistance levels.
Even if the daily bar closes around the current price or above it, bulls might need more time to accumulate energy for a further move. In this case, sideways trading in the range of $175-$185 is the most likely scenario.
From the midterm point of view, the picture is similar. If buyers want to seize the initiative, they need to restore the price above the vital $200 zone.
SOL is trading at $178.3 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team