SOL ETF

Solana

Delta

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analysts-review-solanas-current-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Review Solana’s Current Trends</a><br></p>
<p style="text-align: justify">Recent developments have put <a href="https://en.bitcoinhaber.net/assessment-of-solana-coin-sol-and-the-potential-impact-of-robinhoods-relisting" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> (SOL) under the spotlight. A major catalyst was the <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">news</a> of a SOL ETF in Canada, followed by VanEck’s application for a Solana ETF. This bullish news led to a 10% surge in SOL’s price. However, despite the enthusiasm, the price hike wasn’t sustained, and even with analysts’ optimism, the future course remains uncertain.</p>
<h2 id="what-are-analysts-saying">What Are Analysts Saying?</h2>
<p style="text-align: justify">Currently, SOL is trading between $132 and $143. After a 5% drop in the last 24 hours, the price settled at $134. The Relative Strength Index (RSI) stands at 40.57, indicating a selling zone. Significant attention is on GSR’s June 28 prediction, which suggested that SOL could rise sharply if the ETF is approved, potentially reaching $1,192 in the long term.</p>
<h2 id="will-predictions-hold-true">Will Predictions Hold True?</h2>
<p style="text-align: justify">Contrary to GSR’s optimistic outlook, the Cumulative Volume Delta (CVD) paints a different picture. The CVD, which indicates the difference between buying and selling volumes, shows a net negative difference of 127,945. This suggests more selling activity than buying, casting doubts on a bullish trend.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">Investors can draw several actionable insights from the current analysis:</p>
<ul>
 <li>Monitor RSI levels for potential entry or exit points.</li>
 <li>Keep an eye on CVD for market sentiment indicators.</li>
 <li>Be aware of formations like the inverted cup and handle for trend predictions.</li>
 <li>Consider potential ETF approvals as significant market movers.</li>
</ul>
<p style="text-align: justify">An inverted cup and handle pattern also signals a bearish trend, indicating a potential drop to $126.90 if the formation completes. However, <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a> can reverse these trends, potentially pushing SOL to $145.25.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analysts-review-solanas-current-trends" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Review Solana’s Current Trends</a></h5>

Analysts Review Solana’s Current Trends

Table of Contents

BH NEWS

Egyéb ezen a dátumon (2024. júl. 4.) megosztott cikkek

Robert Kiyosaki Predicts Major Market Crash, Followed By Bitcoin’s Climb To $10 Million

Techberry Review: Transparency and User Experience

Shiba Inu Team Issues Special Message for Community

Asic Marketplace Celebrates 3 Remarkable Years Of Excellence In The Mining Industry

Fourth Of July Is All About Freedom And So Is Bitcoin For Many Americans In Love With King Crypto

2024’s Best Crypto Presale Title Goes To BlockDAG Network After Stellar 1300% ROI; Eclipses XMR A...

Join our free newsletter for daily crypto updates!