Solana Drops 1.11% To $143.40, Faces Neutral Market Sentiment

Solana (SOL) has experienced a slight decline in its price, dropping by 1.11% since the previous day. The cryptocurrency is currently trading at $143.40. On the hourly chart, SOL appears to have found local support at $141.41. If the daily candle closes significantly above this mark, there is potential for continued growth towards resistance levels. However, on a larger time frame, buyers have struggled to maintain the upward momentum following the previous bullish closure. If the current price levels hold, there is a possibility of a decline to the $140 area.

From a mid-term perspective, the market sentiment for SOL is neutral. The trading volume is decreasing, indicating that neither buyers nor sellers are currently dominant. This suggests that SOL may continue to trade sideways within the range of $130 to $150. According to CoinStats, buyers have not yet been able to take control of the market, further supporting the neutral outlook.

In summary, while SOL has shown some signs of support and potential for growth, the overall market sentiment remains neutral. The lack of significant buying pressure and the decreasing trading volume suggest that SOL may continue to trade within a narrow range in the near future. Investors should monitor the $141.41 support level and the $140 area for potential price movements.