MATIC and SOL Price Analysis for October 11

By the end of the day, bulls could not seize the initiative as the top 10 coins keep trading in the red zone.

SOL/USD

Solana (SOL) has followed the drop of other coins, losing 3.29% of its price share.

Solana (SOL) has continued the drop after yesterday’s bearish candle. However, despite the drop, the price remains trading above the important level of $30, which means that there is still a chance for a bounce back.

At the moment, the more likely scenario is sideways trading in the range of $31-$32 as the altcoin needs more power for a further move.

SOL is trading at $31.51 at press time.

MATIC/USD

MATIC is more of a loser than Solana (SOL) with a drop of 4.26%.

On the daily chart, MATIC has bounced off the mirror level at $0.7945. If the candle fixes above it, one can expect a local correction. However, if this does not happen, the decline may continue to the $0.76 zone. Such a scenario is relevant until the end of the current week.

MATIC is trading at $0.7966 at press time.