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Sellers are back in the game after bulls' domination, according to CoinStats.
$SOL/USD
Solana ($SOL) is one of the biggest losers today, falling by 4.33%.
On the hourly chart, the rate of $SOL is near the local resistance of $222.78.
If bulls can hold the gained initiative, one can expect a level breakout, followed by a further upward move to the $225 zone.
On the longer time frame, the price of $SOL is again testing the support level of $219.52. However, if the bounce back occurs, traders may witness a local rise to the $224 range.
From the midterm point of view, the rate of $SOL is far from the support and resistance levels. The volume has declined, which means none of the sides is ready for a sharp move. All in all, sideways trading in the area of $210-$230 is the most likely scenario.
$SOL is trading at $221.81 at press time.