Solanaเพิ่มขึ้น
Is Solana Crypto Ready To Take A Big Leap Towards The $200 Mark?
Is Solana Crypto Ready To Take A Big Leap Towards The $200 Mark?
Solana crypto is exhibiting consolidation near the 20-day Exponential Moving Average (EMA), hinting at a potential breakout in the upcoming sessions.
The Relative Strength Index (RSI) and 14-day Simple Moving Average (SMA) have both crossed the mean line, signaling a bullish trend on the horizon.
Solana crypto has exhibited a steady pattern, consolidating at the 20-day Exponential Moving Average (EMA) across the last six intraday sessions. This stabilization phase followed a pullback from the upper resistance level of around $190.
Furthermore, the pattern of price stabilization succeeding a decline suggests the formation of a 'higher low' on the daily chart. Additionally, a notable shift in the volume inflow and the total value locked (TVL) hints at a bullish trend emerging.
Let's delve deeper into the same and explore the potential trajectory of Solana's (SOL) price in the forthcoming trading sessions.
TVL On The Rise While Volume Dropped
As per data obtained from a financial website defillama.com, Solana has witnessed a notable increase in its Total Value Locked (TVL). In April, there was a decrease in TVL from $4.87 billion to $3.86 billion, however it has since rebounded to $4.97 billion.
<iframe width="640px" height="360px" src="defillama.com/chart/chain/Solana?derivatives=false&chainTokenVolume=true&theme=dark" title="DefiLlama" frameborder="0"></iframe>
Moreover, TVL represents the amount of capital that is staked or secured within the blockchain. A gradual increase in TVL can be interpreted as a shift in market engagement, a growing demand for the project, and a heightened commitment from investors.
<iframe title="Santiment Chart: Price (SOL), Volume (SOL), Price (SOL) MA(50), Price (SOL) MA(200)" width="1170" height="425" src="embed.santiment.net/chart?ps=solana&pt=SOL&df=2023-12-29T00:00:00.000Z&dt=2024-05-13T18:29:59.391Z&emcg=1&emhwm=1&wm=price_usd;volume_usd;[2;price_usd;MA50];[2;price_usd;MA200]&wax=0;1&wc=#33bd5d;#D2D6E7;#FF5B5B;#FFCB47&ws={"interval":"1d","node":"candle"};;;" scrolling="no"></iframe>
In addition, the recent sessions have seen a decline in trading volume concurrent with a dip in Solana's price, suggesting a waning interest from sellers. This could potentially signal an upcoming bullish trend.
Is Solana Ready For A Bull Run?
The technical analysis indicates that the long-term trajectory for SOL price is bullish, remaining well above the crucial 200-day Exponential Moving Average (EMA). However, In the near term, the price appears to be retracing, potentially setting the stage for an upcoming bullish phase.
Currently, the price is consolidating, and this phase could conclude if buyers manage to push the price beyond the $175 threshold. Should the price sustain an upward trend, short-term traders and investors might look at $188 and $200 as subsequent levels for realizing profits.
Conversely, if the Solana (SOL) price continues to trade below the $175 level, it may persist in consolidation and could further correct down to the $160 and $150 support levels.
Conclusion.
Solana (SOL) crypto is consolidating near the 20-day EMA after a decline from $190, indicating a potential 'higher low' formation. TVL has rebounded from $3.86 billion to $4.97 billion, suggesting increased market engagement and investor confidence.
Despite a recent volume decrease, the long-term outlook is bullish above the 200-day EMA. Now, If Solana surpasses $175, it may target $188 and $200. Otherwise, it could correct to $160 or $150. This analysis points to a possible bullish trend if the consolidation phase ends with a breakthrough above the $175 level.
Solana crypto is exhibiting consolidation near the 20-day Exponential Moving Average (EMA), hinting at a potential breakout in the upcoming sessions.
The Relative Strength Index (RSI) and 14-day Simple Moving Average (SMA) have both crossed the mean line, signaling a bullish trend on the horizon.
Solana crypto has exhibited a steady pattern, consolidating at the 20-day Exponential Moving Average (EMA) across the last six intraday sessions. This stabilization phase followed a pullback from the upper resistance level of around $190.
Furthermore, the pattern of price stabilization succeeding a decline suggests the formation of a 'higher low' on the daily chart. Additionally, a notable shift in the volume inflow and the total value locked (TVL) hints at a bullish trend emerging.
Let's delve deeper into the same and explore the potential trajectory of Solana's (SOL) price in the forthcoming trading sessions.
TVL On The Rise While Volume Dropped
As per data obtained from a financial website defillama.com, Solana has witnessed a notable increase in its Total Value Locked (TVL). In April, there was a decrease in TVL from $4.87 billion to $3.86 billion, however it has since rebounded to $4.97 billion.
<iframe width="640px" height="360px" src="defillama.com/chart/chain/Solana?derivatives=false&chainTokenVolume=true&theme=dark" title="DefiLlama" frameborder="0"></iframe>
Moreover, TVL represents the amount of capital that is staked or secured within the blockchain. A gradual increase in TVL can be interpreted as a shift in market engagement, a growing demand for the project, and a heightened commitment from investors.
<iframe title="Santiment Chart: Price (SOL), Volume (SOL), Price (SOL) MA(50), Price (SOL) MA(200)" width="1170" height="425" src="embed.santiment.net/chart?ps=solana&pt=SOL&df=2023-12-29T00:00:00.000Z&dt=2024-05-13T18:29:59.391Z&emcg=1&emhwm=1&wm=price_usd;volume_usd;[2;price_usd;MA50];[2;price_usd;MA200]&wax=0;1&wc=#33bd5d;#D2D6E7;#FF5B5B;#FFCB47&ws={"interval":"1d","node":"candle"};;;" scrolling="no"></iframe>
In addition, the recent sessions have seen a decline in trading volume concurrent with a dip in Solana's price, suggesting a waning interest from sellers. This could potentially signal an upcoming bullish trend.
Is Solana Ready For A Bull Run?
The technical analysis indicates that the long-term trajectory for SOL price is bullish, remaining well above the crucial 200-day Exponential Moving Average (EMA). However, In the near term, the price appears to be retracing, potentially setting the stage for an upcoming bullish phase.
Currently, the price is consolidating, and this phase could conclude if buyers manage to push the price beyond the $175 threshold. Should the price sustain an upward trend, short-term traders and investors might look at $188 and $200 as subsequent levels for realizing profits.
Conversely, if the Solana (SOL) price continues to trade below the $175 level, it may persist in consolidation and could further correct down to the $160 and $150 support levels.
Conclusion.
Solana (SOL) crypto is consolidating near the 20-day EMA after a decline from $190, indicating a potential 'higher low' formation. TVL has rebounded from $3.86 billion to $4.97 billion, suggesting increased market engagement and investor confidence.
Despite a recent volume decrease, the long-term outlook is bullish above the 200-day EMA. Now, If Solana surpasses $175, it may target $188 and $200. Otherwise, it could correct to $160 or $150. This analysis points to a possible bullish trend if the consolidation phase ends with a breakthrough above the $175 level.
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