CandleFocus Solana Price Poised To Cross $150 As Whale Interest Spikes
2024-09-12
Author: Content Editor
The price of Solana (SOL) has experienced significant volatility this week but has rebounded by over 12%. Despite this, it is still trading below important moving averages and has a bearish tone. However, a whale recently bought a large amount of SOL coins, indicating a possible bullish run. The SOL price is currently aiming to breach a declining trendline barrier and approach the $150 mark. Market sentiment suggests that buyers are looking for an opportunity to enter a long trade, indicating further gains for the altcoin. The daily RSI and the Chaikin Money Flow Index also suggest increased buying pressure. SOL's Total Value Locked (TVL) has seen an upswing, indicating increased liquidity and potential benefits and returns. Daily transaction activity has also seen an uptick, indicating rising demand and user activity. The OI-Weighted funding rate and Open Interest suggest bullish cues and long buildup activity. If market sentiment remains bullish, the SOL price may climb to $145 and $150 levels in the future, with support levels at $130 and $125.
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