According to CoinMarketCap, the market continues to hit new local lows.
SOL/USD
Solana Rate (SOL) decreased by 6.60% in the last 24 hours.
On the hourly chart, SOL price may have found a local support level of $132.90. If the daily bar closes away from that level, the bounce could continue up to the $140 zone.
Over a longer time horizon, there are no signs of a reversal yet. However, you must pay attention to the daily close of the candle.
If it occurs far from the low, traders could expect sideways trading in the $135-145 zone through the end of the week.
From a medium-term perspective, SOL price is far from support and resistance levels. However, if the decline continues to the $120 area, the accumulated energy could be enough for a breakout, followed by a move towards the $100-110 area.
SOL is trading at $137.27 at the time of writing.
