Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Solana looks for bullish signals. Can you break through this area?
ALTCOIN NEWS

Solana looks for bullish signals. Can you break through this area?

By Crypto FlexsDecember 8, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Solana looks for bullish signals. Can you break through this area?
Share
Facebook Twitter LinkedIn Pinterest Email
  • Solana formed a bullish cup and handle pattern, testing an important supply area.
  • Strong technical indicators and social dominance suggested a bullish breakout was more likely.

Solana (SUN) ofA textbook cup and handle pattern has formed on the weekly chart, building a strong bullish setup that hints at a potential breakout. At press time, SOL was trading at $238.32, up 1.08% over the past 24 hours.

Prices are now testing a critical supply zone, where a successful breakout could trigger a significant rally.

Traders and investors are eager to see if SOL can maintain its momentum and overcome this resistance.

Is SOL on the verge of a breakout?

Solana’s weekly chart clearly shows the classic cup and handle shape, a bullish pattern that hints at a potential upward move. Prices are approaching a strong supply area, an important resistance point.

Beyond this area, more buyers may come in, pushing the SOL higher. However, refusal will result in a revocation.

Therefore, traders will closely watch SOL’s movements here to determine the next price trend.

SOL chart analysis

Source: TradingView

What do technical indicators say?

Technical indicators further support the optimistic outlook. The RSI is at 66.11, indicating solid buying pressure but still room before it becomes overbought.

Additionally, MACD hit 9.22, reinforcing SOL’s upward trend.

This bullish signal suggested that a successful breakout of the supply zone would strengthen these technical indicators, attracting more traders into long positions.

SOL Technical IndicatorsSOL Technical Indicators

Source: TradingView

Why does social dominance attract attention?

SOL’s social dominance rose from 4.73% to 5.36% in just one day. This growth reflects increased engagement and interest in social media platforms.

This interest is often associated with higher market participation and price momentum.

Therefore, higher social dominance means more traders are entering the market, which can further fuel SOL’s bullish momentum.

Source: Santiment

How will liquidation affect SOL’s momentum?

Liquidation data highlighted strong optimism among traders. SOL recorded $44.39 million in short liquidations and $1.49 million in long liquidations.

High buy liquidation volume indicates that many traders believe in an upward move in SOL.

As a result, this clearing supports the possibility of SOL breaking through the supply zone and maintaining a bullish trajectory.

Source: Coinglass

What does Open Interest reveal about the future of SOL?

Open interest surged 4.04% to $6.02 billion. This increase indicates significant capital is flowing into Solana futures contracts.

Higher open interest means more traders are investing heavily, which supports price stability and reinforces bullish trends. This number increases the likelihood of a successful break above the supply zone.

Source: Coinglass


Read Solana (SOL) price prediction for 2024-2025


Solana is on the verge of a decisive breakout with a bullish cup and handle pattern forming on the weekly chart.

Therefore, it is likely that SOL will break through the supply zone, maintaining upward momentum and setting the stage for continued price increases.

Next: Jupiter eyes $1.90. Can JUP break his lifetime high?

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025

XRP struggles for $ 3: Do Whale Offroads attract it lower?

August 7, 2025
Add A Comment

Comments are closed.

Recent Posts

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 2025

PrimeXBT Launches “Empowering Traders To Succeed” Campaign, Leading A New Era Of Trading

September 2, 2025

Korean sleeves cut Tesla and pivot with encryption stocks.

September 2, 2025

Are you ready to token everything?

September 1, 2025

Sign Up And Get $500, Ushering In A New Era Of BTC, XRP, And DOGE Cloud Mining

September 1, 2025

Turning Social Hype Into Token Allocation

September 1, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025
Most Popular

Ripple locks 800 million XRP in escrow. Will this affect the price?

February 4, 2024

BTC, ETH, BNB, XRP, SOL, ADA, DOGE, AVAX, DOT, MATIC

December 15, 2023

Receive millions of dollars worth of Poopcoins through airdrop from Doodles creator

March 30, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.