Solana (SOL) recently surpassed Ethereum in decentralized exchange (DEX) trading volume, attracting market attention and speculation of an impending bull run.

Current Market Dynamics

Volume Leading: Solana’s 7-day DEX trading volume reached $11.8 billion, while Ethereum’s was $9.2 billion, which has led many to speculate whether Solana is preparing for a major bull run.

Price Action: Currently, SOL is trading at $153.09 and is still trending upward despite a slight decline. The key resistance level is $163.66, and a break above this level could trigger a rally.

Technical Analysis

Indicators show: The relative strength index (RSI) is 52.31, indicating neutral momentum; while the moving average convergence divergence indicator (MACD) suggests that underlying bullish strength is increasing.

Whale Activity

Whale Hoarding: Top holders with more than $5 million control 57.07% of the stablecoin supply. This shows that whales are strategically accumulating SOL, which usually indicates price increases.

Liquidations and Open Interest

Market Volatility: $3.4839 million of long positions were liquidated in the past 24 hours, showing high market leverage that could exacerbate price volatility.

Open Interest Growth: SOL’s open interest increased by 2.26% to $2.45 billion, indicating rising interest among market participants.

Summary

Given SOL’s strong performance and whale accumulation, the bull potential is evident. #BTC要挑战7W大关了吗？ #特朗普家族加密项目 #美国大选如何影响加密产业？