The price of Solana (SOL) showed positive movements over the last 24 hours, rising from $178 to $189 before slightly pulling back to $184. This movement indicates a strong buying interest in the cryptocurrency.
Current Price Trends of Solana
The current price of Solana stands at $185.88. Active buying interest has been observed in the last 24 hours despite some price fluctuations. The market has demonstrated significant activity, which bodes well for investors.
Technical Analysis and Fibonacci Levels
Price analysis for Solana shows the formation of an ascending triangle, which typically signals a possible breakout to the upside. The resistance level is just shy of $205.78, while the support shows an upward trend. The market maintains a bullish trend, supported by Fibonacci levels, with critical support zones at $143.81 and $156.33.
Market Activity and Trader Sentiment
Trading volumes for Solana derivatives have surged by 6.04%, reaching $29.20B, indicating increased interest in contracts. The long/short ratios indicate a predominance of bullish sentiment, with a higher number of long positions compared to shorts. Liquidation data also shows a clear advantage for short positions, suggesting a potential short squeeze.
Overall, Solana exhibits strong market signals considering current price trends and analytical data. It will be interesting to observe further movements in the market in light of these trends.
