The weekend is under bears’ control, according to CoinStats.
SOL chart by CoinStatsSOL/USD
The price of Solana (SOL) has declined by 0.54% since yesterday.
Image by TradingViewOn 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.
Image by TradingViewOn 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.
Image by TradingViewFrom the midterm point of view, there are no reversal signals so far.
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.
Source: https://u.today/solana-sol-price-analysis-for-january-25
