Solana

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The market is facing a correction at the end of the week, according to <a href="https://u.today/doge-price-analysis-for-november-11" rel="noopener noreferrer nofollow">CoinStats</a>. <img data-entity-type="file" data-entity-uuid="2d7b2f30-2c54-46ca-bae5-7713adc29d16" src="https://u.today/sites/default/files/inline-images/top10_769.png">SOL chart by&nbsp;<a href="https://coinstats.app/coins/" rel="noopener noreferrer nofollow">CoinStats</a>
<h2 class="text-align-justify" id="sol-usd">SOL/USD</h2>
Solana's (SOL) rate has rocketed by more than 40% over the last week. <img data-entity-type="file" data-entity-uuid="2d68f8bf-492e-4225-8a35-515ea13a6e95" src="https://u.today/sites/default/files/inline-images/sol1_13.png">Image by&nbsp;<a href="https://www.tradingview.com/sybols/SOLUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the rate of SOL is located close to the resistance, which means that buyers are more powerful than sellers to a certain extent. If the situation does not change by the end of the day, the growth may continue to $64. <img data-entity-type="file" data-entity-uuid="f9439a6e-09b5-4882-8fcf-aa38bf813be7" src="https://u.today/sites/default/files/inline-images/sol2_11.png">Image by&nbsp;<a href="https://www.tradingview.com/sybols/SOLUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, the price is located within yesterday's candle, which means that the rate of SOL might need time to accumulate energy for a further move.
In this regard, consolidation in the range of $55-$60 is the more likely scenario for next week. <img data-entity-type="file" data-entity-uuid="b7792827-d1ee-4c7b-a552-75351113a5f0" src="https://u.today/sites/default/files/inline-images/sol3_10.png">Image by&nbsp;<a href="https://www.tradingview.com/sybols/SOLUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the weekly chart, the rate of SOL is about to close in the bullish zone. At the moment, there are no bearish signals yet. If the bar closes near the $60 zone, the rise may lead to a test of the $70 zone soon.
SOL is trading at $59.16 at press time.

Solana (SOL) Price Analysis for November 12

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