TokenSpeculation
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$SOL what you think? read his post below and then please come back let me know...
Is Solana struggling due to whales not pushing or because all those Fake NFTs and token projects is ruining their chain.....?
#NFTScam #TokenSpeculation
Is Solana struggling due to whales not pushing or because all those Fake NFTs and token projects is ruining their chain.....?
#NFTScam #TokenSpeculation
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Solana Bulls Aim to Break Key Resistance Amid Investor Anxiety
Solana struggles to surpass the $200 resistance level, leading to a decline in investor optimism and OI.
The funding rate for Solana experiences a significant decrease, indicating traders’ reluctance to open bullish positions.
Despite challenges, Solana remains attractive to institutional investors, evidenced by a substantial influx of approximately $25 million.
Solana (SOL) underwent a notable ascent, peaking at $210 before encountering a sharp downturn. Despite attempts to breach the $200 threshold over the past fortnight, SOL has been unable to do so, fostering a sense of apprehension among investors.
Presently valued at $190, Solana grapples with persistent resistance at the $200 mark, signaling diminishing investor confidence, as evidenced by a decline in Open Interest (OI). Within a brief span of two days, OI plummeted by 15%, from $3.14 billion to $2.88 billion, indicating a reluctance among traders to initiate bullish positions amidst the ongoing consolidation phase.
Furthermore, a dwindling funding rate underscores traders’ growing reluctance to engage in optimistic positions. This metric, integral to perpetual futures contracts, mirrors the market’s downward trajectory, reaching one of its lowest points in recent months.
Without a resurgence in both Open Interest and the funding rate, the SOL price could continue its descent, potentially settling into a bearish trend. Presently, Solana bulls face the task of reclaiming the 50-day EMA to solidify support above the $181 mark. However, even in the event of another attempt to breach the $200 resistance, SOL may face a potential dip to $168.
This places SOL in a consolidation phase, oscillating between $168 and $200, with the likelihood of lateral movement persisting in the near term. Despite these challenges, Solana maintains its appeal among institutional investors, as evidenced by its recent influx of approximately $25 million, surpassing other major altcoins.
Read also:
Solana Breaks All Resistance, Set to Reach New All-Time Highs!
Solana Echoes Mid-2021 Surge, Eyes Key Resistance Level
Solana Explodes With a 200% Surge. Can SOL Reach $50 In JAN?
Solana’s Potential Recovery: Breaking the Bearish Trend?
Solana Surges Past Resistance: Potential Price Breakout Ahead!
The post Solana Bulls Aim to Break Key Resistance Amid Investor Anxiety appeared first on Crypto News Land.
The funding rate for Solana experiences a significant decrease, indicating traders’ reluctance to open bullish positions.
Despite challenges, Solana remains attractive to institutional investors, evidenced by a substantial influx of approximately $25 million.
Solana (SOL) underwent a notable ascent, peaking at $210 before encountering a sharp downturn. Despite attempts to breach the $200 threshold over the past fortnight, SOL has been unable to do so, fostering a sense of apprehension among investors.
Presently valued at $190, Solana grapples with persistent resistance at the $200 mark, signaling diminishing investor confidence, as evidenced by a decline in Open Interest (OI). Within a brief span of two days, OI plummeted by 15%, from $3.14 billion to $2.88 billion, indicating a reluctance among traders to initiate bullish positions amidst the ongoing consolidation phase.
Furthermore, a dwindling funding rate underscores traders’ growing reluctance to engage in optimistic positions. This metric, integral to perpetual futures contracts, mirrors the market’s downward trajectory, reaching one of its lowest points in recent months.
Without a resurgence in both Open Interest and the funding rate, the SOL price could continue its descent, potentially settling into a bearish trend. Presently, Solana bulls face the task of reclaiming the 50-day EMA to solidify support above the $181 mark. However, even in the event of another attempt to breach the $200 resistance, SOL may face a potential dip to $168.
This places SOL in a consolidation phase, oscillating between $168 and $200, with the likelihood of lateral movement persisting in the near term. Despite these challenges, Solana maintains its appeal among institutional investors, as evidenced by its recent influx of approximately $25 million, surpassing other major altcoins.
Read also:
Solana Breaks All Resistance, Set to Reach New All-Time Highs!
Solana Echoes Mid-2021 Surge, Eyes Key Resistance Level
Solana Explodes With a 200% Surge. Can SOL Reach $50 In JAN?
Solana’s Potential Recovery: Breaking the Bearish Trend?
Solana Surges Past Resistance: Potential Price Breakout Ahead!
The post Solana Bulls Aim to Break Key Resistance Amid Investor Anxiety appeared first on Crypto News Land.
##TokenSpeculation #TradeWithCare $ETH $BTC
Looks like we have to wait and see what the fed decides to cut interest rates or not going to be interesting to see how the markets will react. I have been making good gains on some short-term short positions. well for newer traders, trade smart and careful with little to no risk keep positions size smaller and make decent gains, if you wrong then you'll be wrong in small way and not hurt your portfolio. trade safe in these markets
Looks like we have to wait and see what the fed decides to cut interest rates or not going to be interesting to see how the markets will react. I have been making good gains on some short-term short positions. well for newer traders, trade smart and careful with little to no risk keep positions size smaller and make decent gains, if you wrong then you'll be wrong in small way and not hurt your portfolio. trade safe in these markets