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Most of the top 10 coins are under sellers' pressure today, according to CoinStats.
SOL/USD
The price of Solana (SOL) has declined by 3.55% since yesterday.
On the hourly chart, the rate of SOL has made a false breakout of the local resistance of $192.32. If the daily bar closes far from that mark, sellers may come back to the game, which may lead to a test of the $185 zone.
On the longer time frame, neither bulls nor bears are controlling the situation on the market. In this case, there are low chances of seeing increased volatility soon.
All in all, sideways trading in the area of $180-$195 is the most likely scenario.
From the midterm point of view, bulls have failed to keep the rise going after the previous bullish bar's closure. If the weekly bar closes around current prices or below, the correction may continue to the $170-$180 range.
SOL is trading at $190.85 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team