Solana (SOL) Price Analysis for October 24

The rates of most of the coins are in the green zone at the end of the week, according to CoinStats.

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SOL chart by CoinStats

SOL/USD

The price of Solana (SOL) has risen by 1.22% over the last 24 hours.

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Image by TradingView

On the hourly chart, the rate of SOL is breaking the local support of $190.82. If the daily bar closes below that mark, the correction is likely to continue to the $185 area.

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Image by TradingView

On the longer time frame, the price of SOL has once again failed to fix above the $195 area. 

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If the candle closes with a long wick, sellers may come back to the game, which may lead to a test of the $180-$185 zone soon.

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Image by TradingView

From the midterm point of view, the rate of SOL is near the support level, which means bears are more powerful than bulls. If the situation does not change, traders may witness a test of the $157 mark by the end of the month.

SOL is trading at $190.21 at press time.

Source: https://u.today/solana-sol-price-analysis-for-october-24-0