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Bears are not ready yet to seize the initiative, according to CoinStats.
SOL/USD
The price of Solana (SOL) has increased by 5.86% over the last 24 hours.
On the hourly chart, the rate of SOL has made a false breakout of the local resistance of $173.33. However, if the daily bar closes around that mark, traders may see a level breakout, followed by an ongoing upward move tomorrow.
On the longer time frame, the price is rising after yesterday's bullish closure.
If bulls can hold the initiative, there are high chances of seeing a test of the $180 zone soon.
From the midterm point of view, the situation is less positive for buyers. Bulls may start thinking about further growth only when the breakout of the $206 resistance happens.
SOL is trading at $172.88 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team