As a seasoned crypto investor with a few years under my belt, I’ve learned to take every market update with a grain of salt and not let my emotions dictate my investment decisions. The latest news from CoinStats about the selling pressure on Solana (SOL) doesn’t phase me too much. While it’s true that the price has dipped by 0.13% since yesterday, I’ve seen far worse in this volatile market.
Sellers are keeping the pressure on, according to CoinStats.
SOL/USD
The price of Solana (SOL) has declined by 0.13% since yesterday.
On the hourly chart, the rate of SOL is in the middle of the narrow channel.
With much of the daily Average True Range (ATR) having been surpassed, it’s more plausible that the market will see sideways movement around its current price levels in the near term.
Regarding the larger time perspective, focusing on the daily closing price is crucial. If this price significantly deviates from the previous day’s peak around $139.90, then the correction could potentially extend towards the $135 region.
Based on the midpoint perspective, it’s premature to make definitive forecasts regarding distant outcomes since only a few days are left before the candle’s expiration. Nevertheless, should it approach its peak, buyers have an opportunity to take control and establish positions above the $140 mark.
SOL is trading at $137.68 at press time.
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2024-06-26 19:05