Solana’s currency appeared as the most important digital currencies on the shit market this week, because it obtained 21.6% gains and the price increased at the highest level of $ 245 in light of the renewal of institutional activity and the enormous interaction in the decentralized financial sector (DEFI), in addition to the technical moments that encouraged the merchants to monitor the price can increase $ 260.
The growth of the decentralized financing sector and whale activity support the Solana (Solana) currency
A large part of the high price of Solana currency is awarded to the sharp increase in blockchain activity, because the total value entered (TVL) value in decentralized financing protocols exceeded $ 12 billion, which is the highest level ever high. This growth highlights the growing role of Solana’s blockchain in loans, trading and decentralized podiums.
At the same time, senior investors quietly open their agreements with the growing collection of whales, because Multicoin has transferred more than $ 680 million in Solana currency to the blockchain, as well as a strong institutional participation, which is a good thing to increase the adoption of the long -term balance.
- The total reserved value (TVL) exceeds $ 12 billion in decentralized financing protocols.
- Multicoin transferred $ 680 million from Solana to the blockchain.
- Whale collection reflects an optimistic view.
Institutional purchases and favorable economic winds
The high moment of Solana received the support from Galaxy Digital after buying $ 1.16 billion in Solana, most of which were transferred to the Coinbase platform, and this step has increased confidence in the liquidity of the currencies and institutional support.
On the other hand, macroeconomic conditions play a vital role in the midst of traders expecting the federally reduced the interest rate of 25 basic points, which can provide more support for dangerous assets, including digital currencies.
After meeting the previous factors with the strong pillars of the Solana medal, the current environment opens the way to the possibility of positive impetus until the end of the year.
Technical prospects for the performance of Solana and Bull
At the technical level, the strength of future expectations for the price of the Solana currency, which is exchanged at a price of $ 247.82, increases with a market value of $ 134 billion, because the price tries to penetrate the resistance zone of $ 250, which previously represented a difficult barrier.
On the graphic scheme of a period of 4 hours, the Solana part remained inside a cancer channel with the formation of its price movement as an emerging background while supporting the trend line is still in place. In addition, the average average movement index if for 50 days (50 EMA) at $ 222 and its counterpart for 200 days (200 days) to $ 192 to climb, which confirms the force of the momentum.
The RSI index (RSI) reflects its entry into the surplus purchase zone which indicated – in the past – the continuity of the growing track, and the last commercial candles have formed the “three white soldiers” model, which reflects the continuity of the ascending trend.
In the event that the price of the Solana currency is able to penetrate the level of $ 250, the target levels can extend to $ 260 and 270, and this may be a decrease in the level of $ 244 or the level of $ 235, a health test, while the average average movement of if is $ 222 of structural support for the price.
For merchants, they can open a speculative agreement at high level at the highest level of $ 244, with a prescription for loss of stop at $ 227. As for long -term currency owners, this height can be continuous and the price can cost around $ 300 if the institutional momentum continues.
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Given its design to combine the Bitcoin blockchain and the speed of the Solana blockchain, this second layer solution provides unique practical uses with a fluid link to a bitcoin.
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The Solana-Sol price signal position with the data signal to the currency investors after having recorded weekly gains of 21.6% appeared first on Arab Cryptonews.