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Solana (SOL) Price Prediction for June 18

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Tue, 18/06/2024 - 15:10
Solana (SOL) Price Prediction for June 18
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The market keeps setting a new local low, according to CoinMarketCap.

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Top coins by CoinMarketCap

SOL/USD

The rate of Solana (SOL) has fallen by 6.60% over the last 24 hours.

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Image by TradingView

On the hourly chart, the price of SOL might have found a local support level of $132.90. If the daily bar closes far from it, the bounce back may continue to the $140 zone.

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Image by TradingView

On the bigger time frame, there are no reversal signals yet. However, one should pay attention to the daily candle's closure. 

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If it happens far from its low, traders may expect sideways trading in the zone of $135-$145 until the end of the week.

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Image by TradingView

From the midterm point of view, the price of SOL is far from the support and resistance levels. However, if the decline continues to the $120 zone, the accumulated energy might be enough for a breakout, followed by a move to the $100-$110 area.

SOL is trading at $137.27 at press time.

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