According to CoinStats, the market is mostly falling today. Solana (SOL) also shows a decline, down by 2% over the last day.
Current Market Situation
Currently, Solana is trading at $173.44, reflecting an overall bearish trend in the cryptocurrency market.
Short-term Analysis
On the hourly chart, Solana's price demonstrated a local resistance level at $174.14. If the daily close deviates significantly from this mark, traders might anticipate a drop to the $170 zone by tomorrow.
Mid-term Prospects
On a larger time frame, bulls are trying to seize the initiative after yesterday's bearish closure. If the rate of Solana returns to $180 and stabilizes above, the upward move is likely to extend to the $185-$190 range within the next few days. However, from a mid-term perspective, the situation appears less optimistic. Weekly bar closure near the support of $157.82 could indicate a deeper correction to the $120-$140 area.
Solana's price may encounter both short-term and mid-term changes, requiring increased attention from investors.
