Solana (SOL) Price Prediction for October 8

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The growth has not lasted long, as most of the coins are again in the red zone, according to CoinMarketCap.

Top coins by CoinMarketCap

SOL/USD

The rate of Solana (SOL) has fallen by 5.12% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of SOL is breaking the local support level of $142.73. If it happens and the daily bar closes below it, the decline is likely to continue to the $141 range shortly.

Image by TradingView

On the bigger time frame, the situation is also rather more bearish than bullish. If buyers lose the interim level of $142, the accumulated energy might be enough for a test of the $140 zone. 

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. If the weekly candle closes around current prices, traders may witness an ongoing drop to the $130-$135 range.

SOL is trading at $143.48 at press time.