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Most of the coins are coming back to the green zone today, according to CoinMarketCap.
SOL/USD
The rate of Solana (SOL) has risen by 4.37% over the last 24 hours.
On the hourly chart, the rate of SOL is returning to the local support of $233.06. If sellers’ pressure continues, one can expect a test of the $230 area by tomorrow.
On the bigger time frame, the situation is also rather more bearish than bullish. If the candle closes with a long wick, the accumulated energy might be enough for a support breakout, followed by a further correction to the $210-$220 range.
From the midterm point of view, it is too early to make any distant predictions as the week has just started. Thus, the volume has dropped, confirming the absence of buyers and sellers’ energy.
Related
In this case, sideways trading in the zone of $220-$260 is the most likely scenario.
SOL is trading at $236.38 at press time.
Disclaimer: The opinions expressed by our writers are their
own and do not represent the views of U.Today. The financial and market information
provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
your own research by contacting financial experts before making any investment
decisions. We believe that all content is accurate as of the date of publication,
but certain offers mentioned may no longer be available.
Source: https://u.today/solana-sol-price-prediction-for-january-28