Solana increased by 12 % during the past week, as she installed the recovery attempt in the broader market. At the time of the press, Layer-1 (L1) is trading at $ 139.41.
However, the main technical indicator may drop a declining difference, which raises doubts about the strength of this upward trend. This analysis carries the details.
The Solana Rally faces the opposite winds with the emergence of a declining difference
The evaluation of the Sol/USD graph for one day reveals that although the price of Sol has risen in the past seven days, the flow of Chaikin (CMF) has decreased, which constitutes a huge difference.
The CMF index measures pressure and selling pressure by analyzing size and prices over a specified period. It ranges between -1 and +1, with positive values indicating strong purchase and negative values that indicate the dominance of sale.
The declining difference occurs when the price of the original rises, but the CMF decreases, indicating that the gathering lacks strong support for purchase. This means that although SOL prices are high, capital flows are weakened, which hints to a possible reflection or slowing in the budget of the currency.
Solana long/Qusayr supports this Habbiyah view. At the time of the press, it depends on 0.97, which reflects the high demand for short positions among derivatives.
The long/short percentage measures the percentage of long situations (bets on price increase) to short jobs (bets on low prices) in the market. Less than this means that there are more short situations than long situations. This indicates that merchants are landing on Sol and betting in favor of short -term price declines
Solana faces a pivotal moment where the battle of bulls and bears
As of writing these lines, Sol is trading at $ 139.41, as the rest was made above the support formed at $ 136.92. Once you buy the pressure and uniformity of the sellers of their dominance, the currency price may try to test this support level.
If the price area fails to keep it, the downward pressure on the Sol will intensify, which may lead to a decrease in the price to $ 130.82.
On the contrary, the recovery in the actual demand for Sol would nullify this landfill. In this case, the currency price may rise to $ 152.87.
Disintegration
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