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Buyers are not going to give up, according to CoinMarketCap.
SOL/USD
The rate of Solana (SOL) has risen by 3.23% over the last 24 hours.
Despite today's growth, the price of SOL is going down after a false breakout of the local resistance level of $232.98. If the daily bar closes far from that mark, bears might seize the initiative, which may lead to a drop to the support level soon.
On the larger time frame, the rate of SOL is in the middle of a wide channel. The volume remains low, which means neither buyers nor sellers are ready for a sharp move.
Denys SerhiichukIn this case, sideways trading around the current prices is the more likely scenario.
From the midterm point of view, the price is far from main levels. Bulls may start thinking about an ongoing growth only when they return the rate to at least the $260 zone.
SOL is trading at $232.54 at press time.
Godfrey Benjamin
Tomiwabold Olajide
Dan Burgin
Alex Dovbnya
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