u.today
A new week has started with sellers' pressure on, according to CoinMarketCap.
SOL/USD
Solana (SOL) is the exception to the rule, rising by 0.16% over the last day.
On the hourly chart, the rate of SOL is in the middle of the local channel, between the support of $122.52 and the resistance of $127.63.
As most of the daily ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
On the bigger time frame, the picture is rather more bearish than bullish. If the bar closes near the support, the accumulated energy might be enough for a move to the $115-$120 zone soon.
From the midterm point of view, there are no reversal signals yet. The volume keeps going down, which means bulls are not ready yet to seize the initiative. If nothing changes, traders may witness a test of the support of $115.47 by the end of the week.
SOL is trading at $124.21 at press time.