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Solana Price Prediction: Golden Cross and Liquidation Squeeze Set Stage for Next Rally
The Solana price has been on a wild ride lately, with the token experiencing significant volatility over the past few weeks. However, as the asset bounces off key support near $155, it appears that the tide is turning in its favor. The emergence of a golden cross and liquidation squeeze setup sets the stage for a potential next rally.
Solana’s recent correction has been arrested by strong fundamental drivers, including growing corporate adoption. In an unexpected move, Artelo Biosciences has adopted Solana as a reserve asset, highlighting the token’s increasing appeal among institutional investors. This development is particularly noteworthy, given that it marks the first time a publicly traded biotech company has chosen Solana for its financial reserves.
From a technical perspective, the picture looks just as rosy. The daily chart is displaying signs of a confirmed bottom formation, with the price having broken out of a multi-month downtrend and establishing a clean ascending structure. This setup could potentially propel the asset towards targets in the $230-$250 region, pending confirmation of this golden cross.
Furthermore, Solana’s futures volume has been increasing steadily, indicating growing speculative interest in the token. The heatmap suggests that short sellers have piled up near the $166.8 mark, setting the stage for a potential liquidation squeeze should the price push through this level.
If Solana can maintain its structural integrity by holding onto the critical $155-$160 zone, it could trigger a wave of liquidations in futures markets, potentially fueling the next leg up in the token’s price trajectory. This is because the unwinding of these short positions would release a significant amount of buying pressure on the asset.
It is essential to note that this prediction does not come without some risk. A failure to hold onto key support levels could result in a temporary retreat, potentially triggering some selling pressure. However, with real-world adoption and technical signals aligning to create a compelling long-term narrative, the fundamentals appear strong enough to mitigate any short-term setbacks.
In conclusion, while no guarantee can be made about the accuracy of this prediction, the cumulative evidence suggests that Solana is well-positioned for an imminent upswing, driven by fundamental forces as much as any potential catalysts from the global macroeconomic environment.
Source: bravenewcoin.com
