$SOL
Brothers, today let's talk about Solana (SOL) this cryptocurrency!
Do you know that SOL ranks fifth in global market capitalization? And this guy is gearing up to rise!
Why do I say that? Because SOL has formed a bullish price pattern in the past few hours, almost like it's telling the world: "I'm going to rise, you better watch out!"
It also broke through a bearish head and shoulders pattern earlier, which has put the bears in a tough spot, trapped tightly.
Let's take a look at the technical analysis. Today is December 5, 2024, and SOL has already broken through today's descending trend line, heading towards its historical high. This breakout is quite aggressive!
The four-hour candlestick chart has closed above the $240 resistance level. Some experts say that SOL might rise another 10%, possibly reaching $265 by tomorrow!
Additionally, SOL has been trading above the 200 Exponential Moving Average (EMA) for four hours, indicating it is currently in an upward trend. Looking at the Relative Strength Index (RSI), it is at 55, not yet in the overbought area, so SOL still has room to rise.
It's not just technical analysis that suggests this; on-chain indicators also support the rise of SOL. An on-chain analytics company called Coinglass reported that the long-short ratio for SOLUSDT on Binance is 4.61, indicating that traders are generally optimistic.
I checked, and 82.17% of large traders on Binance hold long positions, while only 17.83% hold short positions. It seems everyone is very confident in SOL!
Currently, the price of SOL is close to $240, having risen 3.5% in the past 24 hours, with trading volume increasing by 8.5%. Although the reaction from traders and investors to this breakout is not very enthusiastic, the potential of SOL is significant.
So, friends, if you are interested in SOL, you better keep a close eye on it! #比特币回升至97K #DOGE狂潮 #美国合规概念币走扬
Don't be like a headless fly bumping around everywhere. If you want to make big money in a bull market, like + comment, and I'll take you to layout the entire bull market and seize the opportunities together!
