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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.
Most of the coins are trying to get back in the game, according to CoinMarketCap.
Solana (SOL) is one of the biggest gainers today, going up by 4.86%.
On the hourly chart, the rate of SOL is trading closer to the resistance than to the support, which means that buyers are more powerful than sellers at the moment. If the daily bar closes above $190, there is a chance to see a breakout, followed by a move to the $200 zone.
On the daily time frame, the situation is not so positive, as the rate is far from the main levels. Thus, the volume keeps declining, which means that none of the sides has seized the initiative yet.
In this case, sideways trading in the area of $175-$195 is the more likely scenario until the end of the week.
A better picture can be seen on the daily chart against BTC. Traders should pay attention to the bar’s closure in terms of the nearest level of 0.00288. If it happens near it, one can expect a breakout to the 0.0030 area soon.
SOL is trading at $188.29 at press time.