CandleFocus

Solana (SOL) Price Prediction for February 17

Author: Content Editor
The majority of cryptocurrencies are experiencing positive price movements at the start of the week, although Solana (SOL) is an exception as its price has dropped by 2.1% in the past day. On the hourly chart, SOL is currently trading within a local channel between support at $180.77 and resistance at $189.72. If growth continues, it is expected that the upper resistance level will be tested by tomorrow. Traders on a longer time frame should pay attention to the bar's closure in relation to the $175.89 support. If the bar closes near or below this level, it may lead to a breakout and a continued downward move towards the $170 area. There are currently no reversal signals from a midterm perspective, although if the weekly bar closes near its lowest point, there may be a test of the support at $157.82 in the near future. As of now, SOL is trading at $184.50.

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