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Most coins bounce back after a sharp market decline, according to CoinStats.
The SOL rate (SOL) increased by 7.14% over the last 24 hours.
Despite today's sharp rise, SOL price still appears bullish on the hourly chart. If the daily bar closes near the $98.85 level or above, the upward movement could continue to the vital $100 zone tomorrow.
On a longer time frame, it is too early to make bullish forecasts as the SOL rate remains in the broad channel.
Only if the price returns to the $110 zone is there a possibility of a breakout of resistance followed by a blowout to $130.
From a medium-term perspective, it is worth paying attention to the candle's close relative to yesterday's bar peak. If this happens above, the rise may lead to a test of the $110-$120 zone.
SOL is trading at $99.44 at press time.