Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The market remains mainly red, however, there are some exceptions to the rule, according to CoinStats.
SOL/USD
The rate of Solana (SOL) has declined by 1.8% since yesterday.
On the hourly chart, the price of SOL is breaking the local support of $185.58. If the daily candle closes below that mark, the decline is likely to continue to the $180 area soon.
On the bigger time frame, one should pay attention to the candle closure in terms of yesterday's low.
Denys SerhiichukIf it happens, traders may witness a test of the $175.26 level within the next few days.
On the weekly chart, the picture is more bearish than bullish. If the price reaches the nearest support level of $175.26, there is a chance to see its breakout, followed by a further correction to the $160 area.
SOL is trading at $184.75 at press time.
Yuri Molchan
Godfrey Benjamin
Dan Burgin
Alex Dovbnya