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Bears are not going to give up so easily, according to CoinMarketCap.
SOL/USD
Solana (SOL) is one of the biggest losers today, falling by 3.06%.
On the hourly chart, the rate of SOL has made a false breakout of the local support of $179.87. As most of the ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
In addition, the volume has also gone down, confirming the absence of buyers and sellers' strength.
On the longer time frame, the situation is similar. The price of the altcoin is far from key levels. In this case, sideways trading in the narrow range of $180-$190 is the most likely scenario.
From the midterm point of view, one should focus on the weekly candle's closure. If it happens with a long wick, sellers may seize the initiative, which may lead to a drop to the $170 mark.
SOL is trading at $185.97 at press time.
Vladislav Sopov
U.Today Editorial Team