The market’s rise has not lasted long, and most of the coins are again in the red zone, according to CoinMarketCap.
SOL/USD
Solana (SOL) is the exception to the rule, rising by 0.74% over the past day.
On the hourly chart, the rate of SOL is looking bearish as it is near the local support of $192. If its breakout happens, the fall is likely to continue to the $185 zone.
On the longer time frame, bulls have failed to keep rising after yesterday’s bullish closure.
You Might Also Like
If the daily bar closes below $190, there is a high chance of seeing a test of the $160-$170 range by the end of the week.
From the midterm point of view, the situation is more bearish than bullish. If the weekly bar closes below the interim level of $200, traders may witness a test of the support of $157.
SOL is trading at $193.43 at press time.
Source: https://u.today/solana-sol-price-analysis-for-october-14