Is price of Solana (SOL) ready for local bounce back?where is seminole hard rock casino Advertisement

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The market fall has not lasted long, according to CoinStats.

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SOL/USD

The price of Solana (SOL) has risen by 0.42% over the last day.

On the hourly chart, the rate of SOL might have set a local resistance of $119.94. If the daily bar closes far from that mark, there is a chance to see a test of the support of $114.90 by tomorrow.

On the bigger time frame, none of the sides is dominating, as the price is within yesterday's bar. 

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If the situation does not change, ongoing sideways trading in the narrow range of $115-$125 is the most likely scenario.

From the midterm point of view, the picture remains bearish as the price keeps trading near the support of $110. If its breakout happens, traders may witness a test of SOL at the vital $100 mark.

SOL is trading at $117.50 at press time.