⚡ SOL Stabilizes at $170 — Can Seeker Rollout Fuel the Next Rally?
Solana is about $170 on Tuesday following a 7% gain in two days.
On Monday, Solana began distributing its Seeker mobile gadget to over 50 countries.
From gloomy to bullish, derivatives data shows traders' confidence rising as financing rates rise.
Solana (SOL) is over $170 on Tuesday after rebounding about 7% in two days. Solana began distributing its Seeker mobile gadget to more than 50 countries on Monday, which might increase its ecosystem reach and help this recovery. Derivatives data reveals SOL's financing rates have turned positive, enhancing trading confidence and boosting near-term optimism.
On Monday, Solana's Seekers mobile revealed that it is distributing devices to over 50 countries, expanding its ecosystem.
“We’re sending tens of thousands of devices to 50+ countries around the world, so sit tight as your order makes its way through over the coming weeks,” Seeker said on X.
The Seeker phone, with over 150,000 pre-orders, will include updated technology, a mobile-native crypto wallet, and a decentralized app store.
https://twitter.com/solanamobile/status/1952362792377290760
Bearish traders become bullish.
Solana's derivatives data is optimistic. CoinGlass's OI-Weighted Funding Rate data suggests that fewer traders expect Solana's price to fall than rise.
A positive rate of 0.0006% indicates that longs are paying shorts on Tuesday. As illustrated in the figure below, Solana prices have risen considerably when financing rates are positive.
Solana Price Forecast: SOL rebounds from steep drop
Solana fell 13.44% in five days after closing below $184.13 on Monday. It found support around $162.75 on Sunday near its 200-day EMA. The 200-day EMA and 61.8% Fibonacci retracement line at $163.40 form a critical support zone. SOL rebounded 4.68% on Monday and is now at $168.67.
SOL may rise to its daily resistance level at $184.13 if the 200-day EMA at $162.75 holds.
SOL might fall below its 50% price retracement mark at $150.39 if it corrects.
#Solana #sol $SOL
