- SOL was traded near $ 171 with a 2.14%profit as accessing $ 176-$ 188 resistance zone.
- Solana’s social dominance has risen to 5.18%, indicating that retail interest is being returned as technology changes.
Solana (SOL) As we tested the critical resistance cluster between $ 176 and $ 188, we regained strong momentum and continued the upward trajectory. The price has already been strongly rebounded at the latest low, and seems to be ready to challenge these months of the walls.
At the time of writing, SOL has traded 2.14%at $ 171.47 over the last 24 hours.
This recovery shows the signs of strength because Solana shows signs of intensity in both technical indicators and derivatives activities.
Can bull pressure?
According to the liquidation heat map, the dense layers of the dense paragraphs were piled up between $ 170 and $ 176.
The decisive movement of more than $ 176 has already been cascade with the clearing of $ 171, about $ 171, so you can no longer drive upside down.
On May 18, the total short liquidation exceeded $ 1.72 million, and long liquidation could not be ignored.
The imbalance is a hint for classic settings. When the bull ignites volatility upside down, the cascade of the short liquidation can accelerate the movement.
Source: COINGLASS
The financing rate makes a positive change after the extended stage.
In addition, the financing rate for Binnis turned slightly from red to 0.008%after a few weeks.
This change suggests that the willingness to maintain a long position among merchants is getting bigger and informing the conversion of emotions.
The ratio is still humble, but reflects the increase in merchant trust in the weakness of cooling and the rising potential of Solana. Continuous positive funds can attract more leverage and strengthen the strength of the strength.
Source: Santiment
Social buzz is picked up as a retail interest rate
Meanwhile, Solana’s social dominance has risen to 5.18%and has recovered from multiple weeks. This rising usually suggests new interests among retail investors that can be found at the early optimistic stage.
The current level is still lower than the Spike in March, but emphasizes that the community participation is increasing.
If the price breaks the resistance, the social traction can be strengthened and the strength of the strength can be amplified.
Source: Santiment
Are SOL preparing for evacuation? MACD and FIB say yes
Technically, Solana is higher than 1.618 Fibonacci Extension at $ 163.16, the most important support level of volatility.
At the same time, the MACD shows the convergence near the zero line and signals optimistic crossovers in the future.
This pattern strengthens the scenario where the SOL can recover $ 176 and defines the next goal to a higher FIB level for $ 189.88 and $ 198.13.
Exercise indicators are gradually enhanced to increase the probability of breakout.
Source: TradingView
Development activities are firm in volatility
In that way, it is not just a price -oriented over -advertising.
Solana’s development activities remain firm in 23.38 and show that Builder confidence is not shaken.
Although the activity is slightly lowered from the previous peak, it continues to signal the builder’s trust and maintain the network foundation.
Consistent development helps to solidify long -term investor trust and can support price rally for more than just speculation.
Source: Santiment
Will SOL overcome resistance and ignite meetings?
As the SOL tests the historically important resistance range, all the metrics are headed for possible evacuation.
The ingredients of meetings have been prepared from liquidation pressure and increased social interest to strengthening technology and stable development.
If the bull cleans the $ 176- $ 188 area, Solana can start a continuous promotion toward higher expansion goals.