Despite the bears’ pressure, the rates of most of the coins keep rising.
The price of Solana (SOL) has fallen by 1.74% over the last 24 hours.
On the hourly chart, the price is coming back to the resistance level at $23.24 against the increased volume. If bulls can hold the rate around it until the end of the day, the growth may continue to the $24 zone tomorrow.
On the bigger chart, the price has almost touched the support at $21.98. At the moment, there are no bullish or bearish signals as none of the sides has accumulated power for a further move.
However, if the rate gets back to the $24 mark, the breakout of the resistance at $25 may lead to sharp growth to $27.
On the daily time frame against Bitcoin (BTC), the price has made a false breakout of the support level at 0.0010682. However, if the sellers’ pressure continues until the end of the day, the fall may lead to the test of the 0.0010 zone soon.
SOL is trading at $23.05 at press time.
#Solana #SOL #Price #Analysis #January