There is no one-way trend on the market as the prices of some coins are falling while others are going up, according to CoinMarketCap.
Top coins by CoinMarketCap
SOL/USD
The price of Solana (SOL) has dropped by 4.73% over the last day.
Image by TradingViewOn the hourly chart, the price of SOL is closer to the support, which means that bears remain in control of the market.
If buyers cannot seize the initiative soon, traders may witness an ongoing decline to $130.
Image by TradingViewNone of the sides is dominating on the daily time frame. If the candle closes around the current prices, the consolidation in the narrow range of $135-$140 is the most likely scenario.
Image by TradingViewFrom the mid-term point of view, one should focus on the weekly bar closure. If it happens near the $120 mark, the accumulated energy might be enough for a breakout, followed by a blast to $100.
SOL is trading at $135.82 at press time.
About the author
Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.
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