CandleFocus Solana (SOL) Set to Hit New High, 82.2% Traders Hold Long Positions
2024-12-05
Author: Content Editor
Solana (SOL) is primed for a 10% surge to reach the $265 mark as it breaks out of a two-week descending trendline and heads towards its all-time high. The altcoin is trading above the 200 Exponential Moving Average (EMA) and its Relative Strength Index (RSI) suggests there is room for further growth. On-chain metrics also support SOL's bullish outlook, with a strong long position among top traders on Binance and a modest increase in open interest. Currently, SOL is trading near $240 with a price gain of over 3.5% in the past 24 hours.
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