Solana (SOL) Price Forecast for May 26: The world watches closely for Solana's next move.

As the week draws to a close, bears maintain their grip on the market, as reported by CoinMarketCap. The leading coins by CoinMarketCap have collectively experienced a decline of 1.61% since yesterday, with a weekly decrease of 2.47%.

Examining the hourly chart, the price of SOL finds itself confined within a narrow channel, oscillating between the support level of $162.23 and the resistance level of $166.94.

With most of the daily Average True Range (ATR) already traversed, the likelihood of significant price movements before the day's end appears slim.

Zooming out to a larger timeframe, recent price action has witnessed a false breakout below the $162.50 support level. Failure to rebound from this point may pave the way for a deeper decline towards $160 and beyond.

Looking ahead to the midterm, the weekly bar appears poised to close on a bearish note. Should this scenario unfold, traders may anticipate a test of the $150-$160 range in the coming week. $SOL

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