Solana: 3 reasons that make Seoul can reach $ 223 before the end of September star-news.press/wp

Main meals

Solana reached $ 211 before reducing it to $ 209, as the whales feed the future demand. The open interest reached 12.9 billion dollars, and it alluded to achieve profits to the short -term risks.

Solana jumped to the highest level in 7 months, reaching $ 211 before returning to $ 209 at the time of the press. This upscale view of monthly and weekly plans extended, increasing by 16.9 % and 8.18 %, respectively.

Amidst this continuous upward trend, large entities, especially whales, make large movements.

Solana whale moves 20,000 Sol

according to Onchain lensShe withdrew the whale of 20,000 Sol worth $ 4.09 million from Kraken and deposited it to Kamino to borrow $ 3 million.

Source: Onchain lens

After these transactions, the whale has transferred the money to OKX, indicating the benefit of Defi. In fact, this step indicated a strategic location for the next market leg, with whale direction bets.

Whales jump to futures

With the intensification of whale activity, it seemed to target future markets.

Cryptoquant future demand data showed four consecutive days of large whale orders. When this scale highlights the activity of whales, it means that whales dominate trading sizes.

Source: Cryptoquant

Interestingly, when we study the derivatives market, these participants are mostly upward. According to Coinglass, the open futures for futures jumped by 5.14 % to the highest new level ever at $ 12.9 billion.

Source: Coinglass

Such height in OI reflects the flow of fixed capital and increased participation in future contracts. Meanwhile, the long/short/short -to 1.02 jumped, with Longs made up 50.6 % of the total contracts.

Source: Coinglass

As the length dominates, the whales that rush to futures are mainly betting on the Solana price to increase more.

Solana networks of profit poses a threat

It is not surprising, with the continued high price of Solana, as well as the appetite between its owners and investors to manufacture it.

Coinglass data has turned into positive, reaching the highest level in 3 months amounting to $ 76 million.

Source: Coinglass

Such an increase has indicated the deposits of heavier exchange of withdrawals, a sign of aggressive sale. After saying this, continuous flows often create a declining pressure – a warning of potential decline processes.

Can the future order maintain the assembly?

According to Ambrypto analysis, Solana continued to gather with a high demand for whale over future positions.

As a result, the trend movement index in Altcoin (DMI) made an upper intersection, reaching 29 years. Meanwhile, the RVGI’s relative index (RVGI) also made a climb intersection, reaching 0.056.

Source: TradingView

Usually, when these momentum indicators make an upward intersection, they indicate a strong upward trend and the possibility of continuing.

After saying this, if buyers, especially whales, continue to accumulate to determine strategic sites, Solana will find the following important resistance at $ 223.

On the contrary, if the momentum fades and the whales of the capital fade while the profit remains strong, it may follow a correction. In this case, Solana (SOL) may decrease about $ 186.