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.
Bears have returned to the game, according to CoinStats.
SOL/USD
The price of Solana (SOL) has fallen by almost 3% since yesterday.
On the hourly time frame, the rate of SOL is falling after a false breakout of the resistance of $190.54. If buyers cannot seize the initiative until the end of the day, the decrease may lead to a further decline to the $175 zone.
A less bearish picture can be seen on the daily chart. Currently, sideways trading is the more likely scenario for the next few days.
Denys SerhiichukIn this case, traders might witness a consolidation in the range of $175-$190.
On the weekly time frame, the fall is likely to continue after a false breakout of the resistance level of $205.20. In this case, the correction may lead to the test of the $160-$170 area.
SOL is trading at $184.7 at press time.
Tomiwabold Olajide
Arman Shirinyan
Vladislav Sopov
Dan Burgin