- The Solana Koop Spree from Defi Development Corp continued.
- Increased question and trust of investors would probably see a meeting up to $ 176.
Solana [SOL] succeeded in exceeding the previous lower high at $ 143. In addition, it made a bullish market structure, but it could not go much further than the $ 145 supply zone.
The reduced exposure of a whale to Ethereum [ETH] And accumulation of Sol instead added to the trust behind Solana.
News that the Defi Development Corp (Nasdaq: JNVR), formerly known as Janover, continued his Sol Buying Spree.
On April 22, the company added 88.164 Sol to his treasury. On Thursday it added another 65,305 Sol -Tokens. This brought the total interests to 317,273 Sol, worth $ 48.2 million, including setting prices.
The market reaction to this institutional investment was positive. The Solana Network protocols witnessed a steady growth in total value (TVL) and liquidity in the past month, which is a reflection of the trust of investors.
The development promised a Solana meeting to $ 176.
Solana will gather to $ 180, but …
Source: SOL/USDT on TradingView
The bullish structure break meant that there were few obstacles in the path up for Sol, from the 1-day graph. The OBV was above the Highs of February and March to indicate an increased purchasing pressure in April.
The Bullish RSI strengthened the Bullish prospects derived from the 1-day price action.
Above $ 143 the level of $ 178 was the next key resistance zone. The price diagram did not show a significant resistance to this level. The Sol Liquidation Heatmap has helped to better understand the coming obstacles.
The 1-month liquidation heating showed that the region of $ 155- $ 160 was the next immediate liquidity pocket that would be attracted Solana. The region of $ 168 was another magnetic zone nearby.
Under the market price, the liquidation levels were clustered around $ 130 and $ 120 also remarkable, although they were smaller than those overhead. The 3 -month liquidation heat agreed with these findings.
That is why the big demand for SOL, combined with the liquidity bags above, probably meant a move to $ 160 and $ 168. The short liquidations that are activated here can press the prices higher and achieve the purpose of $ 176.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer