Vlad Hryniv

🔑 Key Metrics:

- $60M Outflow: On-chain analytics from Coinglass reveal significant outflow of SOL from exchanges. This could signal accumulation and potential buying pressure that might trigger a price rally.

- Strong Long Positions: Binance traders are massively bullish, with 77% of top traders taking long positions in SOL. The Long/Short Ratio is currently at 3.35, further highlighting the bullish sentiment. 📈

📉 Price Action & Analysis:

- SOL is currently trading near $204.65 after a 1% gain in the past 24 hours, with a 45% rise in trading volume.

- Technically, SOL has broken out of a symmetrical triangle on the 4-hour chart. If the price closes above $207, a 17% rally could be in the cards, potentially hitting $243!

💡 What’s Next?: If SOL manages to hold above $207, it’s likely we’ll see a solid bullish trend. But remember, it’s crucial for the price to close above that level to confirm the breakout. 📅

⚡️ Bottom Line: Solana is primed for potential upside, but as always, keep an eye on the market and adjust your strategy accordingly! 📉📈