Most coins are bouncing back after a sharp market drop, according to CoinStats.
SOL/USD
The rate of SOL (SOL) has increased by 7.14% over the last 24 hours.
Despite today’s sharp rise, the price of SOL still looks bullish on the hourly chart. If the daily bar closes near the $98.85 level or above, the upward move may continue to the vital zone of $100 tomorrow.
On the bigger time frame, it is too early to make bullish predictions as the rate of SOL remains in the wide channel.
Only if the price returns to the $110 area is there a possibility of a resistance breakout followed by a blast to $130.
From the midterm point of view, one should pay attention to the candle closure in terms of yesterday’s bar peak. If it happens above it, the rise can lead to a test of the $110-$120 area.
SOL is trading at $99.44 at press time.
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