The weekend is under bears’ control, according to CoinStats.
SOL/USD
The price of Solana (SOL) has declined by 0.54% since yesterday.
On the hourly chart, the rate of SOL might have set a local support at $125.98. If the daily bar closes far from that mark, traders may witness a test of the resistance by tomorrow.
On the bigger time frame, the price of SOL is on the way to the support at $124.67. If a breakout happens, the accumulated energy might be enough for a more profound drop to the $120-$122 range.
From the midterm point of view, there are no reversal signals so far.
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If the weekly candle closes around the current prices or below, one may see a test of the $116.88 support soon.
SOL is trading at $126.61 at press time.