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Home»ALTCOIN NEWS»Solana: Why can $ 100- $ 120 be a sweet point for buyers?
ALTCOIN NEWS

Solana: Why can $ 100- $ 120 be a sweet point for buyers?

By Crypto FlexsMay 2, 20253 Mins Read
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Solana: Why can $ 100- $ 120 be a sweet point for buyers?
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  • Cycle floor catchmetric suggested that Solana is on or near the market floor.
  • The trading activity in 2024 was a big improvement in the network despite the first quarter of 2025.

Solana (SOL) showed signs of forming a long -term market floor. The popular Altcoin has tested $ 115 in the last 14 months.

The price drop in early April was the lowest at $ 100 since February 2024. AmbCrypto has found that Solana can give investors a good purchase opportunity.

Source: Glass Node

The concept of dormancy was proposed to understand Bitcoin’s long -term economic health in 2018 and applies to Solana. This is the average number of days destroyed per coin traded on a given day.

The formula is to destroy the coin work.

The dormant flow of the chart above is a slight adjustment to divide the market cap into 365dma of dormant value. It is used to find the bottom of the long -term market and understand if the cycle is strong or weak.

The 30 -day moving average (MA) of the dormant flow in the press time was close to August 2023. At that time, SOL traded for $ 24.

This metrics reached this level in December 2020 that Solana was regarded as $ 2 per token.

SOL investors are facing losses, but activities were another reason for being optimistic.

SOP onlySOP only

Source: Glass Node

The consumed output profit ratio (SOP) is the price of the price/price. It is used to measure whether the holder sells for loss or profit. More than 1 value represents profit and less than 1 loss.

SOPR’s 30dma was 0.987 and was less than 1 from the end of February. This metric reflects the weak market sentiment for two months.

Solar or number of transactionsSolar or number of transactions

Source: Glass Node

If the dormant flows fall and the SOP is low, it suggests weak market conditions. However, the number of transactions that can be seen through MA for 30 days has been steadily increasing over the past year.

Significant frustration between February and April, but the trend resumed the upward trajectory.

You can’t confirm that Solana is forming a long -term price floor, but the possibility increases as the dormant flow continues to decline. From the point of view of the price behavior, the $ 100-$ 120 range is a strong support area.

In addition, the resurrection activity, especially compared to 2022 and 2023, is a sign that investors’ trust in Solana can earn considerable profits.

Next: There is something that happened in Crypto today -bids such as Ripple’s circle, BTC, etc.

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