Spotlight on SOL as Bitcoin dominance wanes, paving the way for altcoins to kick into high gear if liquidity flows allow.
Altseason hopes may pave the way for a strong SOL bullish move as price enters consolidation phase. We explore the potential for a 15% plus rally.has been one of the top performing cryptocurrencies in the last 12 months. Few top coins have come close to its gains and ability to achieve a strong bounce back after every major dip. But will a similar outcome play out this time?
Our assessment of SOL demand revealed a spike in the number of net longs to over 18 million NLs at the $128 price level. A sign that market sentiment is shifting in favor of the bulls. Solana transactions and on-chain volumes have been declining since the last week of August. However, on-chain data reveals a bit of a surge in on-chain activity. Especially with transaction growth towards the end of last week.There was also a slight volume uptick during the same period. SOL Price demonstrated bearish weakness during the same period, which could indicate that there was a spike in accumulation.
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