Solana
Solana (SOL) Price Prediction for May 26
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Bears continue to be in control on the last day of the week, according to CoinMarketCap.
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SOL/USD
The Solana (SOL) rate has fallen by 1.61% since yesterday. Over the past week, the price has fallen by 2.47%.
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On the hourly chart, SOL price is in the middle of the narrow channel between support at $162.23 and resistance at $166.94.
As most of the daily ATR has been breached, a sharp move is unlikely to occur by the end of the day.
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On a longer time frame, the rate made a false break of the $162.50 support. If no rebound occurs, there is a risk of a deeper decline to $160 and below.
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From a medium-term perspective, the weekly bar is about to close lower. In this case, traders will likely see a test of the $150-$160 range next week.
SOL is trading at $164.11 at press time.
About the Author
Denys Serhiichuk
With over 5 years of experience in trading, Denys has in-depth knowledge of technical and fundamental market analysis. He mainly started his blog on TradingView, where he posts all the relevant information and makes predictions about major coins.
Thus, his experience is enhanced by his work in leading blockchain-related companies such as W12, Platinum Listing, ATB Coin and others, which can be contacted at denys.serhiichuk@u.today.