Solana

FOMO

Resistance

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-price-rises-with-potential-to-surpass-200-resistance/" data-wpel-link="internal">Solana Price Rises with Potential to Surpass $200 Resistance</a> 
<a href="https://en.coin-turk.com/major-update-scheduled-for-solanas-mainnet-beta/" data-wpel-link="internal">Solana</a> price increased by 6% on July 26, aiming to surpass the $200 resistance before August. In the US, this week saw volatility after the launch of Ethereum ETF funds. After retesting the $165 support, SOL instantly changed direction, surpassing the $170 resistance before rising to $178 during US trading hours. 
<h2 class="p1" style="text-align: justify" id="what-s-happening-with-solana">What’s Happening with Solana?</h2> 
Various factors, including the open interest in the futures market, are expected to influence Solana’s movements as it recovers from the sharp drop earlier this month. Inflation, particularly its steady downward trend in recent months, is another crucial factor for <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> to watch. 
Solana’s competitive decentralized finance (DeFi) sector has made commendable progress after a significant correction from the $4.97 billion peak in May to the $4.02 billion low in July. Solana’s TVL value rose by 15% in July to $5.34 billion, highlighting the improving sentiment towards the smart contract token’s <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a>. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-374179 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/sol-2.png" alt="" width="2224" height="1076"> 
As more people lock Solana into smart contracts within the ecosystem, the price’s chance to reach new highs significantly increases. This data is used as a long-term trend indicator. Additionally, Solana’s futures open interest (OI) increased by 9% in the last 24 hours on Coinglass, reaching $2.7 billion. An asset’s OI data represents the total number of outstanding futures contracts that have not yet been settled. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-374178 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/sol-veri.png" alt="" width="2750" height="946"> 
<h2 class="p1" style="text-align: justify" id="solana-chart-analysis">Solana Chart Analysis</h2> 
Solana price rising from the $165 support to $178 was supported by a buy signal from the MACD. On the daily timeframe, a golden cross further revived interest in SOL’s trend revision. Solana’s current position above the descending trend line drawn on the chart indicates a bullish period, with bulls aiming to push the price above $200 this weekend. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-374177 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/sol-grafik.png" alt="" width="2694" height="1444"> 
A previous SOL price prediction revealed that surpassing the $180 resistance could encourage FOMO as investors add open buy orders. As volume increases, Solana’s price could reach $220 before hitting the previous all-time high of $260. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-price-rises-with-potential-to-surpass-200-resistance/" data-wpel-link="internal">Solana Price Rises with Potential to Surpass $200 Resistance</a></h5>
The post <a href="https://en.coin-turk.com/solana-price-rises-with-potential-to-surpass-200-resistance/" data-wpel-link="internal">Solana Price Rises with Potential to Surpass $200 Resistance</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Solana Price Rises with Potential to Surpass $200 Resistance

Obsah

COINTURK NEWS

Ďalšie články zverejnené 26. 7. 2024

Michael Saylor Wants Bitcoin Bailout? Schiff Sounds Alarm

Marathon Digital Switches to Full HODL: What It Means for Bitcoin’s Future

Bittensor (TAO) Surges 60% in 3 Weeks: Can lt Manifest 2x Gains

Top Analyst Predicts Bitcoin’s (BTC) Path, Calls Cardano’s (ADA) Price Chart ‘Frustrating’

BlockDAG X1 Mining App Hits $61 Million in Presales; More on Injective Price Outlook and Dogecoin...

Avenix Fzco Breaks New Ground with Forexeko, a Superior Forex Trading Platform

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!