Close

Solana (SOL) Price Analysis for December 26

u.today
Solana (SOL) Price Analysis for December 26
Price Analysis

Tue, 26/12/2023 – 15:33

Solana (SOL) Price Analysis for December 26
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Some coins from the top 10 list keep rising, while others are falling, according to CoinMarketCap.

Advertisement

Top coins by CoinMarketCap

SOL/USD

The price of Solana (SOL) keeps setting new local peaks, rising by 1.34%.

Image by TradingView

On the hourly chart, the rate of SOL is in the middle of the local channel. The price has made a false breakout of the $111.10 level.

If the bar closes far from that mark and closer to the resistance, one can expect a test of the $124 area soon.

Image by TradingView

A different picture can be seen on the daily time frame. Buyers could not keep the rise going after yesterday’s bullish candle closure. If today’s bar closes near $110 or below, the correction may continue to the $100-$105 area shortly.

Image by TradingView

From the midterm point of view, the rate of SOL has made a false breakout of the recently formed resistance of $118.10. If the bar closes far from that level, bears may seize the initiative, which can lead to a test of the $100 area soon.

SOL is trading at $114.95 at press time.

About Author

scroll to top