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.
Some coins are returning to the green zone, according to CoinStats.
SOL/USD
The price of Solana (SOL) has risen by 2.15% since yesterday.
On the hourly chart, the rate of SOL is rising after a false breakout of the local support level of $165.52. If the growth continues to the resistance, there is a possibility to see a further rise to the $170 zone.
On the daily time frame, the price is in the middle of the channel, which means none of the sides is ready for a sharp move. In addition, the volume keeps falling.
Denys SerhiichukIn this case, ongoing sideways trading in the area of $165-$170 is the more likely scenario until the end of the week.
From the midterm point of view, one should pay attention to the support level of $160. If the sellers' pressure continues and the bar closes near the mentioned mark, traders may witness a test of $150.
SOL is trading at $166.79 at press time.
Arman Shirinyan
Dan Burgin
Alex Dovbnya