According to CoinStats, Solana (SOL) price has risen by 1.77% over the last day, reaching $126.46. Let's examine the price trends and the factors that may affect its future movements.
Recent Price Changes of SOL
On the hourly chart, the rate of SOL is near the local resistance of $127.03. If the daily bar closes near that mark or above it, growth may continue to the $130 area.
Midterm Market Analysis
From the midterm point of view, neither bulls nor bears have seized the initiative. Therefore, ongoing sideways trading around the current prices is the most likely scenario.
Long-term Outlook
In the longer term, the price of SOL made a false breakout of the $116 level. If the weekly bar closes far from that mark, there is a chance to see a test of the $140 range by the end of the month.
Thus, there are significant price changes for Solana, each of which can be attributed to short-term or midterm movements. A definite direction has yet to be identified, indicating a potential continuation of current trends in the near future.
