CandleFocus Solana Aims for $165 as On-Chain Metrics Signal Buy Opportunity
2024-09-19
Author: Content Editor
The cryptocurrency Solana (SOL) is showing bullish signs as it breaks out of its consolidation zone and approaches the $165 level. Its price has surged over 10% in the past 24 hours, and trading volume has increased by 31%. Technical analysis indicates that SOL is in an uptrend and trading above the 200 EMA. If the price closes above the $141.5 level, it could potentially rise by 15% to reach the resistance level of $165. Additionally, SOL's on-chain metrics, including the long/short ratio and future open interest, are also displaying bullish signals, with more traders holding long positions. This suggests that bulls are dominating the market and betting on SOL's upward movement.
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