Main meals:-
- Solana offers a “cup and equation” chart style, which often indicates a possible increase in prices. At the same time, most traders are betting on Binance that the price will rise.
- Online feelings and activity around Solana are still low, which indicates that people are ashamed, although the graphs indicate that the price may rise.
Solana (Sol) creates a cup style and a textbook handle in the weekly graph. Nowadays, the price tests the resistance of the neck line between $ 200 and $ 210 after recovering from $ 135.
At the time of reports, Sol was traded at $ 170.20, indicating a 1.57 % decrease in the past 24 hours. Although the price has decreased slightly, the graph pattern remained strong, and buyers are still trying to pay the price over the downward direction line.
Therefore, if the price is moving clearly over $ 200, this may lead to a strong upward step and confirm that the trend turns into a rise.
The edges of neutral trading activity towards external flows
The exchange data data from May 16 to 148.49 million dollars indicate flows and $ 149.55 million in external flows. This small difference between the standards indicates that the sale pressure is still low.
Therefore, it seems that most investors keep their investments instead of selling them.
This type of behavior usually helps support price increase, especially when the price is close to a major barrier. But because there are not many people who withdraw their money, it indicates that confidence is still low.
As a result, Solana may need stronger assumption signals to support collapse at the level of psychological dollars.
The long -term bias highlights the upcoming trading feelings
Binance data indicates that 70.53 % of merchants are currently occupying long jobs at the time of reports, with a long/short percentage of 2.39. This great difference shows that people expect the price to rise more.
This type of positioning can help prices rise quickly when they break out. But this also means that the market can suddenly decrease if the prices go in the other direction, causing many investors to sell.
Although there is a danger, the fact that most merchants are betting on the prices that are rising to show them confident. Therefore, if the price exceeds 200 dollars, this may rise faster because more investors may jump, and the betting against it may have to buy, which leads to an increase in the price.
But people’s general feelings about Solana are still a bit negative, with the degree of feeling -0.46. This means that most merchants are still cautious. Although the price scheme seems strong, most people have not started feeling positive yet.
In the past, the price increases that started when most people often feel negative for a longer period.
Retail retreat?
The interest in social media has decreased, and fewer people interact. The trading volume was 162, and its share of the market decreased to 3.74 %.
These figures indicated that Solana is no longer the center of retail focus. However, this lack of attention can work in favor of it.
The price usually rises when there is little confusion or distraction. But since many people are interested at the moment, the big price jump may take longer. If more people start talking about it on social media, this will show a stronger belief, but at the present time, attention is low.
In the end, Seoul appears to have a good chance of height due to a clear scheme called the cup and processing, and many merchants are betting on the high price.
However, the wider market actions are still mixed, with Sofeelinglume decreased and small negative feelings that indicate wide support.
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