Solana (SOL) has been performing remarkably recently, with the current trading price hovering around $203.75. In the short term, SOL is showing a pump trend, with a key support level at $202.92 and a resistance level at $207.68.
Market focus is concentrated on the upcoming ETF approval decision. Analysts predict that the likelihood of SOL ETF approval is as high as 95%, with the decision expected to be announced in mid-October. If approved, it could attract a significant amount of institutional funds into the Solana ecosystem.
Institutional investors' interest in SOL continues to grow. Latest data shows that a large institution has newly purchased 196,000 SOL, bringing its total holdings to over 2 million, demonstrating confidence in Solana's long-term development. At the same time, there is positive news from the Solana ecosystem. A recent proposal passed by Jito DAO is expected to double its revenue, further enhancing the value of staking.
However, investors should also be wary of potential risks. There are views that the trading data on the Solana network may be inflated, and the frequent bot trading activities could affect the accurate assessment of network performance. In addition, technical analysis shows that SOL has shown a decline signal on the 1-hour level, and investors need to closely monitor the performance of key support levels.
In terms of capital flow, funds have started to flow back in the short term. In the last hour, there was a net inflow of 790 SOL, with large, medium, and small funds showing a synchronized inflow trend. Although the overall outflow has persisted for 24 hours, the last 8 hours have shown signs of improvement.
For investors interested in participating in SOL trading, the following strategies may be considered:
1. Buy on dips: Enter the market in the $201-203 range, set the stop-loss at $198, with a target price of $215-220. It is recommended to participate with a small position of 2-3%.
2. Range Trading: Buy in the range of 201-203 dollars, sell in the range of 207-209 dollars, quick in and out, strictly control risks.
Overall, the future development of Solana is worth looking forward to, but investors should remain cautious. Focus on the ETF decision results in mid-October, while closely monitoring the performance of the $198 support level. It is recommended to adopt a gradual accumulation strategy to avoid heavy positions and reduce potential risks.
It is important to emphasize that the cryptocurrency market is highly volatile, and investors should make judgments based on their own risk tolerance and should not blindly follow others.
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not_your_keys
· 09-06 09:08
When entering the market, do not just look at the Candlestick.
Solana (SOL) has been performing remarkably recently, with the current trading price hovering around $203.75. In the short term, SOL is showing a pump trend, with a key support level at $202.92 and a resistance level at $207.68.
Market focus is concentrated on the upcoming ETF approval decision. Analysts predict that the likelihood of SOL ETF approval is as high as 95%, with the decision expected to be announced in mid-October. If approved, it could attract a significant amount of institutional funds into the Solana ecosystem.
Institutional investors' interest in SOL continues to grow. Latest data shows that a large institution has newly purchased 196,000 SOL, bringing its total holdings to over 2 million, demonstrating confidence in Solana's long-term development. At the same time, there is positive news from the Solana ecosystem. A recent proposal passed by Jito DAO is expected to double its revenue, further enhancing the value of staking.
However, investors should also be wary of potential risks. There are views that the trading data on the Solana network may be inflated, and the frequent bot trading activities could affect the accurate assessment of network performance. In addition, technical analysis shows that SOL has shown a decline signal on the 1-hour level, and investors need to closely monitor the performance of key support levels.
In terms of capital flow, funds have started to flow back in the short term. In the last hour, there was a net inflow of 790 SOL, with large, medium, and small funds showing a synchronized inflow trend. Although the overall outflow has persisted for 24 hours, the last 8 hours have shown signs of improvement.
For investors interested in participating in SOL trading, the following strategies may be considered:
1. Buy on dips: Enter the market in the $201-203 range, set the stop-loss at $198, with a target price of $215-220. It is recommended to participate with a small position of 2-3%.
2. Range Trading: Buy in the range of 201-203 dollars, sell in the range of 207-209 dollars, quick in and out, strictly control risks.
Overall, the future development of Solana is worth looking forward to, but investors should remain cautious. Focus on the ETF decision results in mid-October, while closely monitoring the performance of the $198 support level. It is recommended to adopt a gradual accumulation strategy to avoid heavy positions and reduce potential risks.
It is important to emphasize that the cryptocurrency market is highly volatile, and investors should make judgments based on their own risk tolerance and should not blindly follow others.