CandleFocus Solana (SOL) Price Now 15% Shy of All-Time High as Open Interest Soars to $4 Billion
2024-11-12
Author: Content Editor
The price of Solana (SOL) has been closely tied to political events, such as the US presidential elections. The altcoin's price has increased by 37% in the last seven days, bringing it closer to its all-time high of $260. Additionally, the open interest for SOL has reached a record high of $4 billion, suggesting new capital entering the market and potentially driving the price higher. The Sharpe ratio, which measures an asset's risk-adjusted return, has also increased for SOL, indicating strong returns for investors. The altcoin faces resistance at $222.26, but the Chaikin Money Flow suggests that buying pressure is strong and a new all-time high could be close. However, if selling pressure occurs, the price might drop to $157.89.
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