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Bulls are not ready yet to seize the initiative, and most of the coins keep trading in the green zone, according to CoinMarketCap.
$SOL/USD
The rate of Solana ($SOL) has declined by 1.46% over the last 24 hours.
On the hourly chart, the price of $SOL is looking bearish as the rate has not bounced back far from the support at $83.69. If bulls cannot seize the initiative, one can expect a level breakout, followed by an ongoing decline to the $83 mark.
On the longer time frame, the rate of $SOL is also going down after a failed attempt to fix above the $90 area.
If the daily bar closes around the current prices or below, traders may witness a test of the $80 range over the next few days.
From the midterm point of view, there are no reversal signals yet. The rate of $SOL is in the middle of the channel, which means traders are unlikely to see increased volatility soon.
$SOL is trading at $83.82 at press time.
coindesk.com
cryptopolitan.com
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