#DeFiGetsGraded 🧬Solana may soon cross $190

🟣Solana has gained 15% over the past week on renewed market optimism, and signals suggest that an uptrend could push SOL towards $190.

🟡On-chain data shows a decline in SOL’s Liveliness to 0.764, indicating a decrease in selling by long-term holders. Liveliness measures the movement of inactive tokens; a decrease indicates that holders are accumulating and becoming confident in the future of SOL. This trend may lead to a prolonged uptrend as market sentiment improves.

🔘Buying pressure is evident in the SOL derivatives market with a bid/ask ratio of 1.01, indicating more long bets than short bets. This bullish sentiment suggests that traders expect the value of the currency to increase, indicating increased demand for long and short positions to continue the upward movement, potentially strengthening the coin.

🔴Solana SOL is approaching the critical level of $190 and is trading above an ascending trend line, indicating a potential increase to $195.55. However, if sellers re-enter the market, profit-taking could reverse the trend and lower the price to $171.88.