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.
Buyers are not going to give up, according to CoinMarketCap.
SOL/USD
The rate of Solana (SOL) has risen by 3.23% over the last 24 hours.
Despite today’s growth, the price of SOL is going down after a false breakout of the local resistance level of $232.98. If the daily bar closes far from that mark, bears might seize the initiative, which may lead to a drop to the support level soon.
On the larger time frame, the rate of SOL is in the middle of a wide channel. The volume remains low, which means neither buyers nor sellers are ready for a sharp move.
Related
In this case, sideways trading around the current prices is the more likely scenario.
From the midterm point of view, the price is far from main levels. Bulls may start thinking about an ongoing growth only when they return the rate to at least the $260 zone.
SOL is trading at $232.54 at press time.
