While most cryptocurrencies are experiencing gains, Solana’s (SOL) price has shown slight declines according to CoinMarketCap. Here’s a breakdown of potential price trends based on current market conditions:
**Solana Price Action:**
– SOL is up 0.61% over the past day.
– On the hourly chart, the price stands near support at $166.78.
– If buyers don’t push for a breakout, we might see testing of the $165 zone by tomorrow.
**Wider Market Context:**
– The SOL price has been trading within yesterday’s range on larger timeframes. It remains far from key levels, indicating neither bulls nor bears have gained a significant advantage.
– A sideways market trend in the narrow range of $164 to $174 is most likely.
**Midterm Outlook:**
– Neither bulls nor bears appear dominant, with low volume suggesting little immediate volatility.
**At press time (May 21), SOL’s price sits at $168.26.**
Read the full article on U.Today for additional insights and analysis.