Since Bitcoin lasted the crowns over $ 87,000, Solana, the sixth cryptocurrency, is trading at $ 138. With 4 % over the past seven days, Solana carries the maximum market of $ 71 billion.
Currently, he faces opposition to exceeding the mark of $ 140, although indicating a possible reflection. Will the bullish conflict lead to a $ 150 penetration march? Or is the amount of $ 131 from it? Let’s discover.
Solana price analysis
In the daily chart, Solana price analysis The outbreak of my bullish is offered to the fall of the fall. With Rally Breakout Rallly, Solana is heading to a $ 140 sign. This explains the increase in the price of about 30 % in the past two weeks.
Based on the Fibonacci levels, the run -off in the penetration rally exceeded 23.60 % at $ 131. Moreover, the recovery extends the positive trend in MACD lines and signal lines.
This indicates a high possibility to run the extended gold. Moreover, the Solana price of the Superrtrend index exceeds $ 136. This represents the beginning of a new positive trend according to the technical index.
Since 23.60 % of the range where Fibonacci is running, the bulls are unlikely to reach the psychological level of $ 150. The strong resistance level coincides with a 38.20 % Fibonacci alternative.
However, with the post -testing of 23.60 %, Solana is likely to witness a long recovery gathering. With optimism, the outbreak of $ 150 will reach the level of $ 185 near Fibonacci alternative 61.80 %.
On the other hand, the Fibonacci level is probably collapsed by 23.60 % to $ 120.
Active headlines jump over the Solana network
While Solana is preparing for an extended crowd, the number Active addresses On the network is witnessing a significant increase. In April, the number of active addresses on the network jumped from the lowest level in 30 days at 2.97 million to the current position at 4.01 million.
This represents a significant increase in activity, which increases the possibility of increasing demand for Solana.
Will the bulls dominate Solana’s derivatives?
in Mashqat marketSolana witnessed a 1.66 % increase in open interest, reaching $ 5.38 billion. This represents a positive increase in the interest of the trader with Solana’s recovery.
Moreover, the negative financing rate is gradually decreased, reaching -0.0051 % over the past 24 hours. Amid the chances of positive recovery, Long situations In Solana’s derivatives crossed a 50 % barrier.
This pushes the long/short ratio higher than the doorstep, which increases the possibility of operating the new bull.
