$SOL sets a new high in 5 months. How will the trend of Houxi develop?
Despite macro headwinds and technical indicators suggesting a mixed short-term outlook, Solana has reached a new five-month high driven by a surge in open interest.
Solana touched $200 during early Asian trading, continuing a 50% increase over the past month, but the price has now fallen below $200 to $197.
Currently, Sol has shown a downward trend, and those looking to build positions should primarily focus on short positions.
Previously, ETH rose while Sol did not, but just yesterday Sol surged to $204.7, which can be considered a catch-up.
Therefore, there is no longer much capital supporting Sol in an upward trend. Focus should still be on short positions!
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