As a seasoned analyst with over two decades of experience in the cryptocurrency market, I have seen trends come and go, bull runs and bear markets alike. Today, I find myself analyzing Solana (SOL), a coin that has shown remarkable resilience and potential.
Buyers are trying to hold the gained initiative, according to CoinStats.
SOL/USD
The rate of Solana (SOL) has gone up by 3.65% since yesterday.
On an hourly timeframe, the price of Solana (SOL) is currently situated within its immediate trading range, with the lower boundary being around $132.79 and the upper boundary at approximately $135.48.
It seems more probable that the market will continue with its sideways movement near the current prices, as no clear dominance has been observed yet.
Over a larger time period, it’s important to keep an eye on the potential closing point around $136.15 for the bar. Should it surpass this level, further progress could extend towards the $140 region by the close of the week.
Looking at the current situation as a crypto investor, I find that Solana’s (SOL) rate hasn’t strayed too far from its support level at around $116. Until it does, there’s still a significant selling pressure in play. This could potentially lead to another drop in price for traders to observe.
SOL is trading at $134.15 at press time.
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2024-09-10 19:29