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Bulls are coming back to the game at the end of the week, according to CoinMarketCap.
SOL/USD
The price of Solana (SOL) has increased by 9.15% over the last 24 hours.
Despite today's sharp rise, the rate of SOL keeps looking bullish on the hourly chart. If the breakout of the local resistance happens, growth is likely to continue to the $270 zone and above.
On the bigger time frame, one should focus on the daily bar closure in terms of the nearest level of $270.67. If the candle closes around it or above, the accumulated energy might be enough for a test of the $280-$290 range soon.
From the midterm point of view, the rate of SOL is far from the main levels. In this case, traders should pay attention to the weekly candle's closure in terms of its peak.
Denys SerhiichukIf it happens with no long wick, there is a possibility of seeing a test of the $300 area.
SOL is trading at $264.70 at press time.
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.
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