Solana

mirror

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Bulls are not yet able to seize the initiative, according to <a href="https://u.today/doge-and-shib-price-analysis-for-january-22-0" rel="noopener noreferrer nofollow">CoinStats</a>. <img data-entity-type="file" data-entity-uuid="ffded6f8-9582-44f5-b94b-d7867576ee1c" src="https://u.today/sites/default/files/inline-images/sol_74.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 (SOL) is one of the biggest losers today, going down by more than 10%. <img data-entity-type="file" data-entity-uuid="ff81c9c6-3ff4-423e-9057-2aa80764e26a" src="https://u.today/sites/default/files/inline-images/sol1_17.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SOLUSD" rel="noopener noreferrer nofollow">TradingView</a>
Despite today's sharp drop, the price of SOL might have found a local support level of $79. However, one should pay attention to the bar's closure.&nbsp;
Only if it happens far from that mark, buyers may locally seize the initiative, which could lead to a test of the $83-$84 area. <img data-entity-type="file" data-entity-uuid="a1186a81-ef87-4888-a83e-9a748f0dd99a" src="https://u.today/sites/default/files/inline-images/sol2_15.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SOLUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the daily time frame, the rate of SOL is approaching the mirror level of $77.78. However, if the bar closes with no long wick, one should expect a breakout, followed by a move to the $70-$75 range. Such a scenario is relevant until the end of the week. <img data-entity-type="file" data-entity-uuid="a8c7fe4b-6ddc-452f-9cfa-13a4e132a2dc" src="https://u.today/sites/default/files/inline-images/sol3_16.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/SOLUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the daily chart against BTC, SOL is on its way to testing the support of 0.001970. If its false breakout happens, there is a possibility to see a bounce back to the 0.00021 zone.
SOL is trading at $79.95 at press time.

Solana (SOL) Price Analysis for January 23

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