The prices of most coins are falling again, according to CoinStats.
SOL/USD
The rate of Solana (SOL) has dropped by 2.52% over the last day.
The price of SOL has broken the local support level of $171.62. While it is below that mark, sellers are more powerful than buyers. In this case, one can expect an ongoing correction to the $165 zone.
On the daily chart, the rate has once again failed to fix above the $175.98 level.
If buyers cannot seize the initiative by the end of the day and the bar closes near its low, there is a possibility of a test of the $160-$165 area next week.
From the midterm point of view, while the price is above $160, buyers have a chance of an upward move. However, they might need more time for SOL to accumulate energy. All in all, sideways trading between $160 and $180 is the more likely scenario until the end of the month.
SOL is trading at $169 at press time.
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