Ethereum

Solana

Value

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/solana-price-surges-before-august" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana Price Surges Before August</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/visa-reports-significant-increase-in-solanas-stablecoin-transactions" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a>‘s price surged by 6% on July 26, aiming to cross the $200 resistance level before August. This rise comes amid a week of volatility in the U.S. markets following the launch of Ethereum ETF funds. After retesting the $165 support level, Solana (SOL) quickly shifted direction, breaking past the $170 resistance and reaching $178 during U.S. trading hours.</p>
<h2 id="factors-influencing-solana-s-movement">Factors Influencing Solana’s Movement</h2>
<p style="text-align: justify">Several elements are expected to impact Solana’s price trajectory, including the open interest in the futures market and the ongoing decline in inflation. These factors are crucial for investors who are closely monitoring Solana’s recovery following a sharp drop earlier in the month.</p>
<h2 id="how-is-solana-s-defi-sector-performing">How Is Solana’s DeFi Sector Performing?</h2>
<p style="text-align: justify">Solana’s decentralized finance (DeFi) sector has shown significant improvement, recovering from a dip from $4.97 billion in May to $4.02 billion in July. In July alone, Solana’s Total Value Locked (TVL) increased by 15%, reaching $5.34 billion. This growth signals an improving market sentiment towards the smart contract token.</p>
<h2 id="key-insights-for-investors">Key Insights for Investors</h2>
<p style="text-align: justify">Investors can take note of the following concrete insights:</p>
<ul>
 <li>Solana’s price is likely to rise further as more assets are locked into its smart contracts.</li>
 <li>An increase of 9% in Solana’s futures open interest over the past 24 hours indicates a bullish trend.</li>
 <li>A golden cross on the daily chart suggests a strong buy signal for Solana.</li>
</ul>
<h2 id="conclusion">Conclusion</h2>
<p style="text-align: justify">Solana’s recent price movements and strong technical indicators suggest a bullish trend, with the potential to surpass the $200 resistance level soon. A previous prediction indicated that breaking the $180 resistance could trigger a “fear of missing out” (FOMO), driving the price up to $220 and possibly towards its all-time high of $260. As <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a> evolve, Solana remains a key asset to watch.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/solana-price-surges-before-august" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana Price Surges Before August</a></h5>

Solana Price Surges Before August

Table of Contents

BH NEWS

Другие статьи, опубликованные 26 июл. 2024 г.

Metaplanet, Semler Scientific were ‘zombie companies’ until Bitcoin, execs say

Michael Novogratz’s Galaxy Digital Acquires $1B in Ethereum Staking Assets

Ripple CEO Brad Garlinghouse Supports Kamala Harris’ Potential Crypto Policies

bitFlyer acquires 100% of FTX Japan shares and will rebrand the platform

Donald Trump Attracts Attention with Cryptocurrency Donations

Bitcoin Hashrate Surges as Miners Ramp Up Operations

Join our free newsletter for daily crypto updates!