Is the big breakout for Solana ($SOL ) cooking? The market is watching closely
As Bitcoin tries to keep its cool mid-week, all eyes from volume analysts are shifting towards Solana. After several days of consolidation and "cleaning" short positions, $SOL is showing price compression on 4-hour candlesticks that usually precedes an explosive move.
The activity on its network continues to break daily transaction records, driven by both the DeFi ecosystem and a constant flow of capital. Historically, when the market gets bored of BTC's sideways action, high liquidity altcoins like SOL tend to lead the rally.
The current zone is crucial: either we break the resistance with volume to look for new local highs, or we return to test the base of the channel.
Binance Square community: Do you think $SOL will break strongly to the upside before the weekend or is it a bull trap? Drop your charts and projections below! 🚀👇
$SOL #BinanceSquareFamily #SolanaUSTD #Altcoins! #AnalisisTecnico #CryptoTrading.
As Bitcoin tries to keep its cool mid-week, all eyes from volume analysts are shifting towards Solana. After several days of consolidation and "cleaning" short positions, $SOL is showing price compression on 4-hour candlesticks that usually precedes an explosive move.
The activity on its network continues to break daily transaction records, driven by both the DeFi ecosystem and a constant flow of capital. Historically, when the market gets bored of BTC's sideways action, high liquidity altcoins like SOL tend to lead the rally.
The current zone is crucial: either we break the resistance with volume to look for new local highs, or we return to test the base of the channel.
Binance Square community: Do you think $SOL will break strongly to the upside before the weekend or is it a bull trap? Drop your charts and projections below! 🚀👇
$SOL #BinanceSquareFamily #SolanaUSTD #Altcoins! #AnalisisTecnico #CryptoTrading.