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The market bounce back has not lasted long, according to CoinStats.

SOL/USD

The price of Solana (SOL) has declined by 0.26% over the last 24 hours.

On the hourly chart, the rate of SOL might have found a local support at $173.73. If the daily bar closes near $180, growth may lead to the test of the $182-$184 zone shortly.

On the bigger time frame, sellers are controlling the initiative on the market. 

Buyers may start thinking about a reversal only if they return the rate to the resistance of $188.32 and fix above it.

From the midterm point of view, one should focus on the weekly bar's closure in terms of the $188.89 level. If it breaks out, growth may continue to the vital area of $200.

SOL is trading at $177.79 at press time.