U.Today - Buyers are trying to hold the gained initiative, according to CoinStats.
SOL chart by CoinStats
SOL/USD
The rate of Solana (SOL) has gone up by 3.65% since yesterday.
On the hourly chart, the rate of SOL is in the middle of the local channel, between the support of $132.79 and the resistance of $135.48.
As none of the sides is dominating, ongoing sideways trading around current prices is the more likely scenario by tomorrow.
On the bigger time frame, one should focus on the bar's closure at the $136.15 level. If it breaks out, the growth may continue to the $140 zone by the end of the week.
From the midterm point of view, the rate of SOL has not bounced off far from the support of $116. Until it happens, sellers' pressure remains relevant, which means traders may witness one more wave of decline.
SOL is trading at $134.15 at press time.
This content was originally published on U.Today
