Solana has struggled to keep the recovery momentum, with the price of the distinctive symbol in the distinctive symbol failing to exceed $ 150 despite multiple attempts. Altcoin prices reflects the lack of a continuous rise, making more gains difficult.
However, the support of the strong investor is to prevent Seoul from experimenting with a sudden or sharp decline. This balance has left the cryptocurrency in a neutral position.
Solana is exaggerated
The NVT ratio, a main measure that measures Solana’s evaluation for transactions, is four months. This indicates that despite the high value of the network, the activity of transactions was not accompanied.
Historically, these contradictions indicate excessive estimate, often leading to price corrections. If the transaction volumes fail to catch the knee, Sol may struggle to maintain its current price. Unless the activity of transactions increases, the increase can lead to a period of stagnation or moderate corrections.
Vitality, an indicator that measures long -term bearers behavior, shows a noticeable decrease. This means that investors who previously sold their possessions are now turning towards accumulation. When long -term holders accumulate, it indicates confidence in the original, which reduces the possibility of large sales that may lead to low prices.
Earlier this month, Solana saw a sharp rise in vitality, indicating a large liquidation. However, the current declining trend of this scale indicates the re -accumulation. This can be a buffer against major price corrections.
Sol price is prevented from decreasing
Solana’s price has increased by 6 % in the past 24 hours, as it is traded at $ 133 at the time of writing this report. Altcoin remained stuck less than $ 135 for several days, struggling to turn $ 148 to a level of support for more than a month. The lack of the Soul momentum prevented from making a decisive movement up.
The current market conditions are mixed signals. While excess assessment raises the risk of correction, accumulation by long -term holders provides support.
As a result, Solana is likely to remain less than $ 150, and fail to breach $ 148. However, it is also unlikely to decrease from the main support of $ 125 and $ 118, even in a declining scenario.
If Solana succeeds in testing $ 148 as support or drop to $ 109, neutral expectations will be nullified. In this case, depending on the wider market conditions and the feeling of investors, the cryptocurrency can continue in the direction in question.
Disintegration
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