The market is back to red again, according to CoinStats.
SOL/USD
The price of Solana (SOL) has declined by 1.11% over the last 24 hours.
On the hourly chart, the rate of SOL is looking bearish as it is approaching the local support of $205.56. If its breakout occurs, the accumulated energy might be enough for a move to the $204 zone.
On the longer time frame, bulls have failed to maintain the upward move after yesterday’s bullish bar’s closure.
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If the daily candle closes around the current price or below it, the decline is likely to continue to the $200 area shortly.
From the midterm point of view, traders should pay attention to the weekly bar’s closure in terms of the $194.19 level. If it settles around that level, the accumulated energy might be enough for a further decline to the $180-$200 range.
SOL is trading at $206.70 at press time.
Source: https://u.today/solana-sol-price-analysis-for-september-30-0