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$61 SOON 🔜
💐 Solana Finally Breaks 18-Month High Amid Positive Onchain Metrics – This Could Be the Next SOL Target 🎯
SOL massively going back to hit its highest price of $250 Soon
Solana (SOL) has been on a tear recently, with the price surging to over $54 for the first time since May 2022. According to on-chain analytics provider Santiment, this decisive breakout signals Solana is decoupling from other crypto assets as momentum builds. But can the rally be sustained and reach as high as $61 soon?
Funding Rates Elevated But Not Yet Worrisome
At the same time, Santiment notes funding rates on Solana futures contracts are getting high but not yet in truly worrisome territory. This indicates trader enthusiasm and bullish speculation are picking up, but not at mania levels that would precede a blow-off top. There is still room for further momentum if funding rates remain reasonable.
According to crypto analyst Rekt Capital, Solana still faces overhead resistance around the $61 that formed in 2021. While the price has already broken strongly above the 2021 resistance line around $53, it remains to be seen whether $61 will also be overcome convincingly. If Solana can replicate this feat, it signals a new bullish phase ahead.
Major Technical Breakout Underway
In summary, Solana’s surge above its prior 18-month resistance is a very bullish technical sign of growing strength. With on-chain data also reflecting building momentum, Solana looks poised to keep rallying higher. The key test will be successfully conquering the $61 barrier and sustaining the breakout. But overall, Solana seems to be in the early stages of a renewed bull market.
Disclaimer:This article just for education not financial advise don’t invest with out funding your Owen you are responsible for the loss
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#BNBecosystem #Anilsingta
💐 Solana Finally Breaks 18-Month High Amid Positive Onchain Metrics – This Could Be the Next SOL Target 🎯
SOL massively going back to hit its highest price of $250 Soon
Solana (SOL) has been on a tear recently, with the price surging to over $54 for the first time since May 2022. According to on-chain analytics provider Santiment, this decisive breakout signals Solana is decoupling from other crypto assets as momentum builds. But can the rally be sustained and reach as high as $61 soon?
Funding Rates Elevated But Not Yet Worrisome
At the same time, Santiment notes funding rates on Solana futures contracts are getting high but not yet in truly worrisome territory. This indicates trader enthusiasm and bullish speculation are picking up, but not at mania levels that would precede a blow-off top. There is still room for further momentum if funding rates remain reasonable.
According to crypto analyst Rekt Capital, Solana still faces overhead resistance around the $61 that formed in 2021. While the price has already broken strongly above the 2021 resistance line around $53, it remains to be seen whether $61 will also be overcome convincingly. If Solana can replicate this feat, it signals a new bullish phase ahead.
Major Technical Breakout Underway
In summary, Solana’s surge above its prior 18-month resistance is a very bullish technical sign of growing strength. With on-chain data also reflecting building momentum, Solana looks poised to keep rallying higher. The key test will be successfully conquering the $61 barrier and sustaining the breakout. But overall, Solana seems to be in the early stages of a renewed bull market.
Disclaimer:This article just for education not financial advise don’t invest with out funding your Owen you are responsible for the loss
FOLLOW FO MORE ARTICLES 🙏🏻 THANKS
#BNBecosystem #Anilsingta
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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