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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 rising at the end of the week, while others have returned to the red zone, according to CoinStats.
The rate of Solana (SOL) has almost not changed since yesterday.
On the hourly chart, the price of SOL is looking bullish as the price is approaching the resistance level of $177.39. If bulls can hold the gained initiative and the bar closes near that mark, there is a chance of a breakout followed by a move to the $180 zone.
A less clear picture is on the daily time frame. Today’s rise has not affected the overall technical situation as the rate is far from the key levels.
In this case, sideways trading in the range of $165-$185 is the more likely scenario for the next days.
From the midterm point of view, the rate of SOL has made a false breakout of the recently formed level of $205.20. If the weekly bar closes near $170 or below, traders may witness a further drop to the support at $152.64.
SOL is trading at $176.42 at press time.