#BTCvsETH And until SOLANA reached $200, I expect more $SOL 🚀🚀
#ETHBreaks3700 Why? I'll leave it below👇👇👇👇👍 Let's stay tuned 👀.
💥Brief breakdown💥
The 10.85% increase in the price of Solana coincides with the momentum of the altcoin season, improvements in its ecosystem, and positive technical signals.
1. The dominance of altcoins rose while Bitcoin's market share fell by 5.8% in one week (Brian Rudick).
2. The launch of Jito's BAM boosted the efficiency in Solana transactions (Lucas Bruder).
3. The technical breakout above the $180 resistance triggered short position liquidations and a FOMO (fear of missing out) effect.
💥Technical Context💥
🔸Breakout: SOL surpassed the Fibonacci retracement of 23.6% ($181.90) and the 200-day exponential moving average ($158.97), with an RSI(14) at 79.69 indicating strong momentum.
🔸Liquidations: $34.59 million in SOL short positions were liquidated in 24 hours as the price approached $200 (SolanaFloor).
🔸Volume: The spot volume in 24 hours increased by 86.59% to $11.8 billion, confirming both institutional and retail participation.
#StablecoinLaw The rally of SOL combines sector rotation, innovation in its ecosystem, and technical momentum. Although overbought signals suggest a possible consolidation, the zone between $180 and $200 now acts as a key support.
Will Solana maintain its leadership if Bitcoin's dominance stabilizes?.😱