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Solana (SOL) Sees Stunning $224 Million Surge in Market Shift
The cryptocurrency market has been experiencing a rollercoaster ride lately, with many assets trading within tight ranges. However, Solana’s price action has taken an unexpected turn, as the coin has just witnessed a staggering surge of over $224 million in inflows.
This sudden influx of investment interest has seen SOL’s value rise significantly, sparking excitement among traders and analysts alike. While some may be cautious due to the current market uncertainty, others are optimistic that this fresh wave of support could propel Solana out of its trading range and potentially towards new highs.
If the bulls can maintain their momentum, we might see a breakout above the 50-day SMA. If they can pull it off, SOL may exit its current trading range and rise to $234, then $247. This optimistic view might be dashed if the SOL price falls and breaks below the $182 support. This could push Solana’s price down to the daily SMA 200 at $170, allowing SOL to move inside its present range for a little while longer.
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only.
Source: u.today
