Solana (SOL) Price Analysis for December 26

Some coins from the top 10 list keep rising, while others are falling, according to CoinMarketCap.

SOL/USD

The price of Solana (SOL) keeps setting new local peaks, rising by 1.34%.

On the hourly chart, the rate of SOL is in the middle of the local channel. The price has made a false breakout of the $111.10 level.

If the bar closes far from that mark and closer to the resistance, one can expect a test of the $124 area soon.

A different picture can be seen on the daily time frame. Buyers could not keep the rise going after yesterday’s bullish candle closure. If today’s bar closes near $110 or below, the correction may continue to the $100-$105 area shortly.

From the midterm point of view, the rate of SOL has made a false breakout of the recently formed resistance of $118.10. If the bar closes far from that level, bears may seize the initiative, which can lead to a test of the $100 area soon.

SOL is trading at $114.95 at press time.

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