Solana （SOL） and Toncoin （TON） are showing bearish trends, with SOL facing a potential test of the $170-$175 range and TON trading sideways.
Points
- SOL has fallen by 6.36%.
- TON is down by 2% but shows less bearish momentum.
- SOL may test the $170-$175 range.
- TON is likely to trade sideways between $6.60 and $6.80.
Solana （SOL） is one of the biggest losers today, falling by 6.36%. On the daily chart, SOL is declining after a false breakout of the resistance level at $188.89. If buyers cannot regain control, SOL may test the $170-$175 range by the end of the week. At press time, SOL is trading at $181.15.
Toncoin （TON） has also declined by 2%. From a technical perspective, TON does not look as bearish as SOL but has not gathered enough momentum to grow. In this case, sideways trading between $6.60 and $6.80 is the more likely scenario. TON is trading at $6.651 at press time.
Explanation
- The significant drop in SOL indicates a strong bearish trend, with potential support in the $170-$175 range.
- TON shows less bearish momentum and is likely to trade sideways.
- Understanding these trends helps traders anticipate potential price movements and plan their strategies accordingly.
