Trading $SOL at $193.47 (+6.89%), securing the sixth position with a market cap of $105 billion

The V-shaped recovery from the support zone of $176-180 confirms the formation of higher lows

Recording a strong trading volume of $7.8 billion and the presence of an upward channel confirms the bullish bias

The critical resistance area at $208-210 represents the gateway to higher targets

The fundamental drivers behind the upward momentum

Outflows from exchanges totaling $85 million on August 18 indicate a accumulation phase

Institutional flows exceeding $1 billion and the anticipation of SOL's listing in an investment fund #ETF fuel optimism

Upgrade #SoIayer that raises yields to 10-15% attracts capital seeking returns

Integration of Solana Pay with Shopify enhances real-world usability

Technical indicators and trading opportunities

Bullish engulfing pattern on the daily chart with a precise 60% breakout of the Bollinger Bands

MACD indicator crossover above the signal line confirms momentum shift

A long/short buy-sell ratio of 3.93 shows a clear bullish bias despite overbought conditions

Strategic entry on a pullback towards $180 provides a favorable risk-reward ratio towards a target of $260

Risk considerations

Mixed activity from whales with the transfer of 98,291 SOL to exchanges indicates a potential distribution

RSI indicator readings suggest a potential short-term correction before trend continuation

Monitoring volume at resistance breakout to confirm momentum continuity #Binance #solana #StrategyBTCPurchase $SOL