The Solana (SOL) bulls are charging ahead! Over the last 24 hours, SOL has been showing strong momentum, fluctuating between $247.09 and $234.15. While it’s currently at $237, a minor pullback isn’t dampening the optimism. 📈
Why are analysts so bullish on Solana this week? 🤔
🔑 Key Indicators are Flashing Green:
Record Open Interest: Solana’s OI soared to $5.45 billion! That means more liquidity and fresh funds pouring in. 🔥
Surging Trading Volume: At $41.60 billion, Solana’s weekly volume is the highest since 2020. Traders are flocking in! 📊
All-time High Transaction Fees: $49.64 million in transaction fees last week alone – a sign of explosive network activity! 💥
🔮 Technical Indicators Point to ATH 🔮 SOL is forming a bullish cup-and-handle pattern on its monthly chart, historically having a 95% success rate! If SOL breaks past the key resistance levels of $260 and $278, we could see a rally towards $360-$400. The bulls are ready to break new records! 🌟
⚡ Bullish Pennant Formation: A breakout above $260 could push SOL towards $290-$300! But watch out—support at $220 is crucial to keep the bullish trend intact.
💡 Analysts are watching closely as Solana follows a similar pattern to its 2021 rally. Could SOL skyrocket towards $780 in the long term? 📈
Key Levels to Watch:
Resistance: $260, $278
Support: $220
#COSSocialFiRevolution #MEMEalpha #BTC93KNewATH #BitcoinETFOptions #BitcoinStrategy
