Some coins are bouncing back, however, others keep trading in the red zone, according to CoinMarketCap.

Top coins by CoinMarketCapSOL/USD

The rate of Solana (SOL) has dropped by 1.30% over the last 24 hours.

Image by TradingView

The price of SOL keeps looking bearish on the hourly chart. If the decline continues, there is a good chance of seeing a support breakout, followed by a dump to the $148-$149 zone.

Image by TradingView

Bulls have failed to keep yesterday's rise. If the daily candle closes near $145, one can expect a test of the $140 area. Such a scenario is relevant until the end of the week.

Image by TradingView

From the midterm point of view, there are no reversal signals yet. Currently, traders should pay attention to the $140 zone. 

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If the weekly bar closes below it, the correction may lead to the test of the $120-$130 area until the end of the month.

SOL is trading at $149.30 at press time.