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 prices of most coins are not going to decline anytime soon, according to CoinStats.
SOL/USD
The rate of Solana (SOL) has increased by 1.6% since yesterday.
On the hourly chart, the price of SOL is on its way to the local support of $155.93. If bulls cannot seize the initiative, one can expect a level breakout, followed by a dump to the $155 range.
On the longer time frame, the rate of SOL has once again bounced off the resistance of $158.80.
If the daily bar closes far from that mark and with a long wick, bears may seize the initiative, which may lead to a correction to the $155 mark.
From the midterm point of view, traders should pay attention to the weekly bar closure. If it happens above the nearest level of $158.80, the accumulated energy might be enough for a move to the $163.54 mark.
SOL is trading at $156.50 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team