Investors Turn Bullish on Solana as it Rises Above $120- Will SOL Price Bounce Back Past $150 This Month?
Solana has drawn a huge attention since he started to exceed large channels in different aspects. It took a major lead among popular channels like Ethereum, Tron, Bnbchain and others by recording $ 370 million in fees. In addition, Fidelity’s Spot ETF application is a closer thumb to be approved and the latest ETF deposit in Grayscale increased optimism around the soil price rally.
Sol Price is restored aggressively after a flash drop to $ 112.46, which suggests that Bulls could probably be back in the game. The negotiation volume jumped more than 25% to reach almost $ 5 billion after a massive increase in the interests of whales. As a result, investors also seem to have become bullish on Solana. A popular analyst, Ali, has shared data that suggests that more than 71% of traders have done for a long time on soil.
This suggests that more than 70% of investors are optimistic about Solana and bet on an increase in prices. Although the price has rebounded in crucial support, the bullish overthrow has not yet been validated. Until then, the Solana price should remain accumulated in a fork but above the support at $ 118. However, the token forms a double -bottomed pattern at this level of support, which can lead to a massive rupture after reaching the resistance area around $ 146.
The latest collaboration between Solana and Circle to improve the accessibility of the USDC has led to significant DEFI growth, highlighting the expansion of stablescoin. In addition, recent token unlocking and increased whale activities on Solana suggest potential changes in market dynamics, reflecting the growing confidence of large investors. In the past 24 hours, Solana’s price (soil) exceeded 5.31% at $ 121 and is therefore supposed to maintain a consolidated upward trend over $ 150.
