As an analyst with over two decades of trading experience under my belt, I’ve seen markets ebb and flow like the tides. Today, I find myself analyzing Solana (SOL), a coin that seems to be caught in its own wave of volatility.
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.
Even though Solana’s value has increased recently, it appears to be trending downwards following an incorrect surge past its local resistance of $232.98. If today’s bar ends significantly away from that point, the bears might gain control, potentially causing a swift drop towards the support level in the near future.
Over a broader perspective, the Speed of Light (SOL) is currently situated within a spacious range or channel. At present, trading volume remains modest, suggesting that both buyers and sellers are hesitant to make a significant price swing.
In this case, sideways trading around the current prices is the more likely scenario.
Viewed from a midterm perspective, the price remains significantly distant from key levels. It’s not until the rate reaches at least the $260 region that bulls might begin considering sustained growth.
SOL is trading at $232.54 at press time.
Read More
- USD MXN PREDICTION
- VANRY PREDICTION. VANRY cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- RSR PREDICTION. RSR cryptocurrency
- XRP PREDICTION. XRP cryptocurrency
- ZIG PREDICTION. ZIG cryptocurrency
- POL PREDICTION. POL cryptocurrency
- EUR CAD PREDICTION
- NTRN PREDICTION. NTRN cryptocurrency
2024-12-12 18:25