$SOL Solana – Bullish Flag Formation Amidst Rising Momentum | Are We Seeing a Breakout Towards $250? 🚀📈
Solana continues to strengthen its market position after surpassing the $200 mark, driven by strong technical momentum and clear on-chain accumulation.
The "bullish flag" pattern visible on the daily chart suggests the likelihood of continuing the upward trend after a consolidation phase.
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Technical Indicators 📊
- Current Price: $201.78 (+11.37%)
- RSI: at 56.5, reflecting healthy buying momentum
- MACD: trending towards a bullish crossover, supporting continued positive movement
- Trading Volume: exceeded $12.6 billion over 24 hours, indicating strong liquidity inflow
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On-Chain Activity 🧠
- Exchange balances are declining, indicating a transfer of SOL to cold wallets — a classic accumulation pattern
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Caution Points ⚠️
- Strong resistance at $206 then $220, and breaking through may require additional momentum
- Slight decline in network activity during the first week of August, with active addresses dropping by 16%
- Whale sell-offs may create short-term pressure, especially after recent moves by Alameda
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Forecast 🚀
- If closing daily above $206, we may see an extension towards $220–$250 during August
- Failure to maintain support above $178 could lead to a pullback towards $171 or $154
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