- The $ 118 zone of SOL has defended the price several times since early March 2024.
- Binance, which dumps to $ 135 and then re -purchases SOL in the $ 118 area, can form a short -term prospect of Solana.
Since March 2024, the price level of $ 118 has played an important border to prevent Solana’s (SOL) prices from falling worse. The price position of less than $ 115.92 has created conditions for the SOL to face an additional price even though the SOL is within this important area.
Previous attempts to stabilize the price of the SOL to about $ 110 and $ 100 are now available. Especially after Trump’s ‘Liberation Day’ tariff, merchants did not regain $ 118 support.
At the time of writing, the MACD line and signal line were maintained at -6.34 and -5.93, respectively. The potential formation of the weak crossover has increased all of the sales power to fulfill more losses in the market.
Source: TradingView
But the histogram was somewhat positive and indicated that the loss of momentum could potentially slow down. This means that it can open market stability or recovery opportunities.
If the SOL goes back $ 118, you can access $ 130 towards the downturn trend line. Price jumps through this resistance area can create upward momentum to find more than $ 150 goals.
In general, Solana’s market has seen some weak potential because $ 118 remained in Limbo. The reaction of this area can determine the following movement: Holding down is informed of more weakness, while recurrence can suggest a possible reversal.
How to form a future movement of the SOL BUY-back of binance
Looking deeply into the warm chain activity, Binance and Coinbase are tactically summarizing several SOL positions through Wintermute.
They sold long positions until the price reached $ 120, and the price began to rise to $ 135, flushing short positions at the highest score. This led to the liquidation of about $ 120.
In the press time, Binance started to purchase SOL through Wintermute according to the X of MARTY PARTY after the previous transaction. This suggests how SOL’s price trend can be affected by this transaction.
The repurchase operation seemed to represent a $ 118 possible market layer. Only when optimistic conditions come back. And it starts by reclaiming $ 115.
Inappropriate market trust can lead to another price drop despite Binance’s purchase activities.
Daily Dex volume of the top chain
But it is worth pointing out that Solana was optimistic from other indicators. The daily Dex’s $ 2.42 trillion won was based on Ethereum’s volume of $ 189.9 billion and BSC surpassed the basis of $ 106.6 billion and 973.44m.
In addition, over the past month, $ 550 million has been approached, including $ 550 million, or more than $ 550 million, or more than $ 400 million from other chains to Solana. Solana has also released a new token of more than 1,15m.
Source: Defillama
Dex use conditions combined with multiple tokens can be appealed to more users in the network, so the price of the sol to $ 130 can be induced.
However, the operation of profitable with the market movement can reduce the price of SOL to $ 100 as the market adjusts.