Solana (Sol) peaked at $208 on August 14th, but once again he was unable to exceed $200 and suffered from price adjustments.
As if this alone wasn’t enough There are signs of weakness that can make major progress difficult in the short term.
In this regard, financial market analyst Parshwa Turakhiya points out that “Solana has experienced a significant situation in August.” As he explains, “the $208 refusal showed a significant change.” He added that leveraged trailers reduce exposure and a strong capital outlet for exchange reflects investors’ attention.
“Stock market data showed a net exit of about $85 million on August 18th, coinciding with the fall of the sun from 191 to 181,” he says.
On the other hand, open interest (oi) Approximately 7% is falling, standing at $11.5 billion. This indicates a decrease in speculative activity.
A combination of these factors, traders who close their positions and withdraw from the capital are indications that investors are paying attention to Solana’s new moves.
Regarding SOL’s technical analysis, Turakhiya points out that it is important for SOL to break resistance in the $187 and $189 range.
In that sense, he warns that if SoL cannot recover that area, the risk of falls will increase towards the levels found in $172 and $176 (a celestial rectangle).
If Sol is able to maintain that support, Turakhiya will consider the rebound to be $190. This trend does not rule out that it can consolidate up to $200 in the medium term. On the contrary, a break below $170 could cause a deeper fix and reach $150.
“A previous perspective highlights the difficulty of the Sun to overcome an area of between $200 and $210. Repeated rejections suggest a strong offer. The current set-off confirms that this area represents a strong level of resistance. Previous conversations point to 170 as important support.
What are the factors that can raise the price of the Sun right now? One of them is the US Stock Exchange and the Securities Commission (SEC)
As reported by Cryptootics, the creatures directed by Paul Atkins so far have given greenlight to future funds managed by Rex stocks and Osprey Funds.
Institutional investment is key to raising the price of the sun. Companies such as Development Corp (formerly Janover), Classover Holdings, Sol Strategies, Upexi have accumulated Earn additional income through Treasury assets and staking as reserve assets.
If this trend continues, perhaps Sol can integrate the narrative as a preparatory asset, in addition to increasing visibility among institutional investors.
(tagstotranslate)altcoins
