$SOL Holding Strong at $166, Whale Moves In + Is DeFi Support Leading to $255 Next?
SOL is currently firmly standing above the critical support at $166 (strong support zone $161-$166).
A whale just withdrew 71,000 SOL ($12 million) from Binance and invested it into the DeFi platform Kamino, a typical 'de-stressing' move to reduce selling pressure.
Phantom's acquisition of Solsniper may complete the DeFi puzzle and could lead to increased on-chain activity.
Technical Highlights:
Daily golden cross combined with Fibonacci 0.5 retracement + 200-day moving average support
Resistance above: $189, $206
If it breaks above $206 and stabilizes, we look towards $255 as an expansion target.
If it falls below $158, we need to be cautious about a potential bullish structure failure.
This wave of whale and ecosystem benefits seems to be a confidence booster for the market; as long as $166 holds, the upward potential remains enticing.
Do you think $SOL can reach $206 this month?
Focusing on the combination of fundamentals and technicals for real-time strategies @加密凌墨