Solana Eyes Potential Rebound Amid Surge in Volume and Buy Signals...
Derivatives Volume Surges Over 65%—Volatility Looms
Solana (SOL) has seen a 65.11% spike in derivatives trading volume, signaling heightened trader interest and the likelihood of increased price volatility. This surge reflects speculative positioning, with the market closely eyeing critical resistance near the $150 level.
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TD Sequential Flashes Buy Signal—Market Reversal in Sight?
A bullish TD Sequential indicator has flashed on Solana’s daily chart, suggesting a potential market reversal after a drop below $150. Historically, this signal hints at the exhaustion of selling pressure and the start of a new uptrend.
According to crypto analyst Ali Chart, this setup could fuel a rebound toward $160, provided Solana breaks and sustains above $150.
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Short Liquidations Hit $50M—Short Squeeze Incoming?
Short positions worth $50.62 million were liquidated recently, further adding to bullish sentiment. A short squeeze scenario is on the table—if Solana decisively breaks the $150 resistance, aggressive covering could push prices significantly higher.
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Mixed Technical Indicators Keep Traders Cautious
Despite the bullish signals, not all indicators are aligned. The Supertrend Indicator turned bearish after Solana fell below its baseline, now set at $171. Meanwhile, the RSI is at 37, indicating potential downside risk, especially if SOL tests $140 again.
The MACD is also in bearish territory, with red bars below the median line. If the price dips under $140, further downside toward $105—its lowest yearly close—could follow.
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Key Level to Watch: $150 Resistance
Solana's ability to break above $150 with conviction remains the deciding factor. A successful breakout, backed by volume and momentum, would strengthen the case for a sustained upward move. On the flip side, failure to clear this barrier may result in renewed selling pressure.
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Market Outlook: Bullish Setup with a Cautionary Note
While signs like the TD Sequential and short squeeze potential point to a bullish reversal, conflicting technicals suggest a cautious approach. A clean breakout above $150 with supportive indicators could mark the start of Solana’s next leg up.
Until then, traders are advised to monitor volume trends, liquidation levels, and resistance breakouts for confirmation.
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Disclaimer
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency trading carries inherent risk, and price predictions are speculative and subject to change without notice.
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