Solana (SOL) Price Prediction for May 1

The prices of most of the coins keep falling, according to CoinStats.

SOL/USD

The price of Solana (SOL) has declined by 4% over the last day.

On the hourly chart, the rate of SOL is in the middle of the local channel, between the support of $118.47 and the resistance of $127.33.

As most of the daily ATR has been passed, there are low chances to expect any sharp ups or downs by the end of the day.

On the bigger time frame, traders should focus on the bar’s closure in terms of yesterday’s low at $121.21. If a false breakout happens, one can expect a bounce back to the $130 zone within the next few days.

On the weekly chart, there are no reversal signals yet. The price of SOL is approaching the recently formed level of $116. If buyers cannot seize the initiative by the end of the week, the accumulated energy might be enough for a move to the crucial zone of $100.

SOL is trading at $122.43 at press time.

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