Solana (SOL) Price Prediction for June 8
Most of the cryptocurrencies remain in the green zone on the last day of the week, however, there are some exceptions, according to CoinStats.
SOL/USD
Unlike other coins, the rate of Solana (SOL) has dropped by 1.75% over the last 24 hours.
On the hourly chart, the price of SOL is far from the main levels. The volume keeps falling, which means neither side has enough energy to seize the initiative.
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All in all, sideways trading around $150 is the more likely scenario.
On the bigger time frame, the picture is similar. The rate of SOL is within yesterday’s candle, confirming the absence of bulls’ or bears’ energy. Buyers may only start thinking about an upward move when a breakout of the upper level happens.
From the midterm point of view, one should focus on the weekly bar closure in terms of the support of $141.41. If the candle closes below that mark, the correction is likely to continue to the $120-$140 zone.
SOL is trading at $149.59 at press time.