CandleFocus Solana (SOL) Set For Bull Run, Insights From On-Chain Data
2024-12-12
Author: Content Editor
Solana (SOL) is experiencing a surge in on-chain metrics and traders' interest, indicating that it is poised for short-term upside momentum. The altcoin's daily trading volume has skyrocketed to $6 billion, the highest since November. The SOL Long/Short ratio has also reached its highest level since November, showing strong bullish sentiment among traders. Technical analysis suggests that if SOL breaches the resistance level at $240, it could rise by 10% to reach $269. Currently, SOL is trading near $227 with a price surge of over 7% in the past 24 hours.
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