Solana (SOL) Price Analysis for January 9

Bulls could not hold the initiative until the end of the day, according to CoinStats.

SOL/USD

Solana (SOL) is the exception from the rule, rising by 5.6% over the last day.

On the hourly chart, the price of SOL is in the middle of the channel, between the support of $95.91 and the resistance of $102.8.

If today’s candle closes around the current prices, ongoing sideways trading may continue tomorrow.

On the daily time frame, the situation is similar. The volume has fallen, which means that none of the sides is ready for a sharp move. In this case, consolidation in the range of $95-$105 is the more likely scenario for the next few days.

From the midterm of view, it is too early to make any distant predictions as the bar is far from the closure. However, if the growth continues and the candle closes near the resistance, traders can expect a blast to the $130-$140 zone soon.

SOL is trading at $99.98 at press time.

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