The market remains mainly bearish today, according to CoinMarketCap.

SOL/USD

The rate of Solana (SOL) has fallen by 3.31% over the last 24 hours.

On the hourly chart, the price of SOL is rising after the false breakout of the local support of $203.54. If the growth continues, one can expect a test of the resistance level by tomorrow.

On the bigger time frame, none of the sides is dominating. 

The volume is low, which means the ongoing sideways trading around the current prices is the more likely scenario by the end of the week.

From the midterm point of view, the situation is similar. However, if the weekly bar closes below the vital zone of $200, traders may witness a correction to the support of $157.82 shortly.

SOL is trading at $204.36 at press time.