The prices of most coins are not going to decline anytime soon, according to CoinStats.
SOL/USD
The rate of Solana (SOL) has increased by 1.6% since yesterday.
On the hourly chart, the price of SOL is on its way to the local support of $155.93. If bulls cannot seize the initiative, one can expect a level breakout, followed by a dump to the $155 range.
On the longer time frame, the rate of SOL has once again bounced off the resistance of $158.80.Â
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If the daily bar closes far from that mark and with a long wick, bears may seize the initiative, which may lead to a correction to the $155 mark.
From the midterm point of view, traders should pay attention to the weekly bar closure. If it happens above the nearest level of $158.80, the accumulated energy might be enough for a move to the $163.54 mark.
SOL is trading at $156.50 at press time.
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