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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-show-strong-interest-in-solana-sol/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Show Strong Interest in Solana (SOL)</a> 
Solana (SOL), the rising star of the cryptocurrency world, is capturing <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a>‘ attention with a promising upward trend. SOL coin has the potential to reach $250 in the long term by breaking a bullish formation and retesting its support in recent weeks. Although SOL’s value decreased by 0.83% in the last 24 hours, overall market sentiment remains optimistic.
<h2 style="text-align: justify" id="investor-interest-remains-strong">Investor Interest Remains Strong</h2>
SOL’s price increased by over 6% last week. This rise indicates strong market interest in SOL. However, recent short-term declines have raised concerns about a bear rally among some investors.
<img fetchpriority="high" decoding="async" class="wp-image-374638 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/solana-4.png" alt="" width="2048" height="693">
Although the weighted sentiment around SOL turned negative on July 27, this may not signify the start of a continuous downtrend. By breaking above a bullish flag formation identified in March, SOL coin may have opened the doors to a potential bull run.
<h2 style="text-align: justify" id="retest-opens-path-to-250">Retest Opens Path to $250</h2>
Notably, a prominent <a href="https://en.coin-turk.com/three-promising-altcoins-set-to-surge-technical-analysis-insight/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto analyst</a>, World Of Charts, highlights SOL’s recent formation break and successful support retest. This retest could trigger a rally that propels SOL to its all-time high of $250. This prediction is generating significant excitement among SOL investors.
<img decoding="async" class="wp-image-374639 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/solana-2-1.png" alt="" width="2048" height="1164">
Data from Coinglass also revealed an increase in the long/short ratio. This metric, which measures the ratio of long positions to short positions, indicates a bullish sentiment with more long positions. However, technical indicators present a mixed outlook. The Chaikin Money Flow (CMF) and Relative Strength Index (RSI) show declines, suggesting a potential continuation of the price drop. Additionally, the MACD indicator also signals a potential downtrend.
<img decoding="async" class="wp-image-374640 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/solana-3-1.png" alt="" width="2048" height="519">
Given these mixed signals, SOL’s path to $250 appears quite ambitious. For a more immediate target, if the upward momentum continues, SOL could aim for $188. However, if the current market indicators’ bearish trends persist, SOL could see a drop to $176.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-show-strong-interest-in-solana-sol/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Show Strong Interest in Solana (SOL)</a></h5>
The post <a href="https://en.coin-turk.com/investors-show-strong-interest-in-solana-sol/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Show Strong Interest in Solana (SOL)</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Investors Show Strong Interest in Solana (SOL)

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