Wed, 27/03/2024 – 16:00
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Bears have returned to the game, according to CoinStats.
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SOL/USD
The price of Solana (SOL) has fallen by almost 3% since yesterday.
On the hourly time frame, the rate of SOL is falling after a false breakout of the resistance of $190.54. If buyers cannot seize the initiative until the end of the day, the decrease may lead to a further decline to the $175 zone.
A less bearish picture can be seen on the daily chart. Currently, sideways trading is the more likely scenario for the next few days.
In this case, traders might witness a consolidation in the range of $175-$190.
On the weekly time frame, the fall is likely to continue after a false breakout of the resistance level of $205.20. In this case, the correction may lead to the test of the $160-$170 area.
SOL is trading at $184.7 at press time.
