SOLUSDT price has risen 21% in the past week, now trading at $199. Despite breaching the $200 mark, Solana has failed to maintain this level, marking a five-month high. The Net Unrealized Profit/Loss (NUPL) indicator for
SOLUSDT shows that profits have reached a five-month high. This signals that many investors are in profit, raising concerns about a potential sell-off. If these factors hold true,
SOLUSDT price could decline toward the support levels of $188 or even drop to $176. A move below these levels could erase a significant portion of the recent gains and shift the altcoin into a bearish trend.However, if investor confidence remains strong and the market continues to show bullish signs,
SOLUSDT could stabilize above $200. Securing this level as support could propel the price back toward $221, invalidating the bearish outlook.
Aaryamann Shrivastava | On-Chain Analyst
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Aaryamann Shrivastava | On-Chain Analyst
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
BeInCrypto - beincrypto.com/author/aaryamann-shrivastava/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.