Solana

Solana (SOL) has emerged as one of the best-performing cryptos over the past 12 months. Despite some bearish dominance since late August, SOL has managed to maintain key support around the $120 level. This critical price point has held steady for the past six months. As of early September, SOL’s price has shown signs of consolidation, suggesting sell pressure may be easing and accumulation could be underway.As of press time, Solana is trading at <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">$129.35</a>, showing a minor upward movement of 0.39% over the last day. Since the last week of August, SOL bears have maintained control, pushing the price lower. However, the first week of September saw a consolidation in the price, with sell pressure easing. This suggests that accumulation may occur, indicating that some investors are betting on a potential price rebound.The number of net <a href="https://coinalyze.net/solana/long-short-ratio/" rel="noopener noreferrer nofollow">long positions</a> in SOL recently spiked to over 18 million at the $128 price level. This indicates growing confidence among bulls, who believe the market may soon favor them.Volatility and Liquidation RisksMarket analysts at <a href="https://hyblockcapital.com/" rel="noopener noreferrer nofollow">HyblockCapital</a> revealed the risk of further liquidations if volatility increases. The brief dip below $128 may have already been part of a leverage shakeout. The support level has remained steadfast, reinforcing that buyers enter at lower prices.Bitcoin Dominance DeclinesAnother factor supporting Solana’s stance is the decrease in <a href="https://www.tradingview.com/symbols/BTC.D/" rel="noopener noreferrer nofollow">Bitcoin’s market dominance</a>. In the last week, Bitcoin&#39;s dominance has been on the decline, and attention has been shifted to other cryptos, such as Solana.<a href="https://cryptotale.org/solana-holds-120-support-signals-bullish-rebound-potential/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Solana Holds $120 Support, Signals Bullish Rebound Potential

CryptoTale

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