Will SOL break through $200 in this round of increase?
Those who have been following me know that I have been recommending SOL, including my own investment in SOL's spot market, and I have been trading this coin's contracts as well.
Recently, SOL's strong performance has been evident to everyone, surpassing ETH. It has created its own independent market trend; what are the reasons behind this?
From a technical chart analysis perspective, every time it drops to around $120, it rebounds, indicating strong buying power at this level, backed by substantial protective funds.
SOL's historical highest point was around $210 in March this year, and there have been two previous failed attempts to break through this level, followed by significant declines. The reasons include trapped positions and broader market conditions, which is the so-called alignment of timing and location not being met.
Now it's the third attempt to reach a new high, and most of the trapped positions have been released. The continuous wealth creation effect of SOL's ecosystem attracts more buyers, driving the price up.
The funding team behind SOL is Wall Street. The increase of any coin relies on capital and consensus. The probability of this round of increase surpassing previous highs and breaking through $200 is very high. As the market environment warms up, more capital will flow into the market. Large funds tend to enter mainstream assets, while smaller funds focus more on niche projects, both of which benefit SOL.
The first round of increases in the current market has ended. When will the second round of increases begin? Click on the homepage to follow along for spot and contract trading timing and strategies with no barriers to entry.
