Sellers are keeping the pressure on, according to CoinStats.
SOL chart by CoinStatsSOL/USD
The price of Solana (SOL) has declined by 0.13% since yesterday.
Image by TradingView
On the hourly chart, the rate of SOL is in the middle of the narrow channel.
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As most of the daily ATR has been passed, ongoing sideways trading around the current prices is the more likely scenario.
Image by TradingView
On the bigger time frame, one should pay attention to the daily closure in terms of yesterday's bar's peak. If it happens far from the $139.90 level, the correction may continue to the $135 range.
Image by TradingView
From the midterm point of view, it is too early to make any distant predictions as only a few days remain until the candle's closure. However, if it happens near its high, buyers have the chance to seize the initiative and fix above the $140 zone.
SOL is trading at $137.68 at press time.