Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
The situation is neutral in the cryptocurrency market on the last day of the week, according to CoinMarketCap.
Sol/US Dollar
The price of Solana (SOL) has remained the same since yesterday. Over the past week, the price decreased by 13.46%.
On the hourly chart, SOL price is near local support at $185.60. If a breakout occurs, the decline to the $184 area is likely to continue by tomorrow.
On the larger time frame, the picture is more bearish than bullish. The altcoin price is on its way to the $182.74 support level.
Related to
If buyers cannot seize the initiative soon, one can expect a test of the $176 area soon.
From a mid-term point of view, traders should focus on the close of the weekly bar in relation to the low of the previous candle. If it happens below $184, the decline could continue to the $160-$170 range.
SOL is trading at $186.35 at press time.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
Source link