After the prices of more than 25 % decrease in recent days, Solana (SOL) is preparing for a huge crowd of upward trend, after a bullish work pattern on the time frame for four hours. This upward outlook attracted prominent investors and traders to the original, and the analysis company revealed the series Coinglass.
$ 25 million of Solana flow (SOL)
Data revealed immediate flows and external flows that with the price of the decisive support of $ 190, the DEFI exchanges of DEFI have witnessed an external flow of more than $ 25 million of distinctive symbols. This large external flow indicates a potential accumulation and can create purchase and momentum in the upward direction, which Sol is currently suffering from.
Sol is currently trading near $ 197 and increased by 1.50 % over the past 24 hours. However, these price gains appear to be steadily increasing, indicating an upward shift in market morale. During the same period, the trading volume decreased by 40 %, indicating a decrease in participation from merchants and investors compared to previous days.
I bets of $ 90 million on Seoul’s long sites
Given the current prices and the transformation of the market morale, traders inside the day are betting on the long side, as COININASS data.
According to the available data, at the time of the press, the operations of traders who occupy long sites are excessive at $ 188.8, believing that the Sol price will not be less than this level. They have opened long sites worth $ 90.50 million. On the contrary, $ 197.50 is another major level where merchants who occupy short positions are excessive, currently holding $ 33.70 million in short positions.
This data shows that bets on the long side are much higher than short situations, indicating that investors believe that the price of Sol will not be less than $ 188.80 in the coming days.
Solana (SOL) has made prices and upcoming levels
According to expert technical analysis, Sol is at a decisive support level of $ 189, as it is in line with the SIA moving average (EMA) on the daily time frame.
In addition, the basic principle is about to rest over the resistance of the descending trend line, which it has faced since January 20, 2024.
Based on modern price actions, if Sol violates this resistance level and closes a four -hour candle that exceeds 200 dollars, there is a strong possibility that can rise by 15 % to $ 230 in the near future.
