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Bulls might have run out of energy to keep rising, according to CoinStats.

SOL/USD

The price of Solana (SOL) has increased by almost 4% since yesterday.

On the hourly time frame, the price of Solana (SOL) has set a local peak at $36.98. If the rise to that mark does not continue by the end of the day, one can expect a decrease to the support of $35.56. 

On the bigger chart, traders should pay attention to the level of $33.90. Until the price is above that mark, buyers have chances for a continued rise. 

However, it might take time until the upward move to the $40 zone.

A similar picture can be seen on the daily chart against BTC. Until the rate is above 0.0010252, buyers are more powerful than sellers. In this case, traders are likely to see a further rise to the 0.0011 area until mid-November.

SOL is trading at $36.11 at press time.

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].