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Some coins in the top 10 continue to rise, while others are falling, according to CoinMarketCap.
Solana (SOL) price continues to set new local highs, up 1.34%.
On the hourly chart, the SOL rate is in the middle of the local channel. The price made a false breakout of the $111.10 level.
If the bar closes away from this mark and closer to resistance, we can expect a test of the $124 zone soon.
A different picture can be seen on the daily period. Buyers were unable to sustain the rise after yesterday’s bullish candle close. If today’s bar closes near $110 or below, the correction may continue shortly into the $100-$105 area.
From a medium-term perspective, the SOL rate made a false breakout of the recently formed resistance of $118.10. If the bar closes away from this level, the bears could take the initiative, which could soon lead to a test of the $100 zone.
SOL is trading at $114.95 at press time.