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The market has quickly changed to red, according to CoinMarketCap.
SOL/USD
The rate of Solana (SOL) has fallen by 3.48% over the last day.
On the hourly chart, the price of SOL keeps looking bearish. If the price breaks the local support, the accumulated energy might be enough for a further correction to the $145 mark.
On the longer time frame, sellers are also more powerful than buyers.
If the candle closes below the $152.14 level and with no long wick, one can expect a test of the $140-$145 range shortly.
From the midterm point of view, there are no reversal signals so far. In this case, one should pay attention to the previous bar's low. If the rate goes below $150, there is a possibility to witness an ongoing correction to $140.
SOL is trading at $150.67 at press time.
Vladislav Sopov
U.Today Editorial Team