The post Solana (SOL) Price Analysis for January 12 appeared on BitcoinEthereumNews.com. The market has quickly changed to red after the weekend’s growth, accordingThe post Solana (SOL) Price Analysis for January 12 appeared on BitcoinEthereumNews.com. The market has quickly changed to red after the weekend’s growth, according

Solana (SOL) Price Analysis for January 12

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The market has quickly changed to red after the weekend’s growth, according to CoinMarketCap.

Top coins by CoinMarketCap

SOL/USD

Solana (SOL) is the exception to the rule, rising by 1.87% over the past day.

Image by TradingView

On the hourly chart, the rate of SOL is near the local support at $139.05. If a bounce back does not happen, traders may expect a further correction to the $138 zone tomorrow.

Image by TradingView

On the longer time frame, the situation is also bearish. If the daily candle closes around the current prices and with a long wick, traders may witness a test of the $130-$135 range by the end of the week.

Image by TradingView

From the midterm point of view, it is too early to make such long-term predictions. One should focus on the candle’s closure in terms of the nearest level at $144.80. 

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If the bar closes above it, the accumulated energy might be enough for a test of the $150-$160 range until the end of the month.

SOL is trading at $139.98 at press time.

Source: https://u.today/solana-sol-price-analysis-for-january-12

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