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Solana Price Aims for $280 As Retail Bulls Watch the $213 Barrier
The post Solana Price Aims for $280 As Retail Bulls Watch the $213 Barrier appeared on BitcoinEthereumNews.com. Solana (SOL) has had a very busy August. The Solana price moved higher at first, then gave back some of those gains, almost like forming three peaks on the chart. Each time it tried to push through, it got rejected. Currently, Solana clocking $212 at a day prior, the coin was in a downtrend. It was trading near $208 at the time of writing. This was after testing the once again testing the ceiling near $213–230, even as traders watched closely, this attempt may not be any different this time. On the year, SOL is up 47.2%. In the last 24 hours alone, it climbed 4.2%, while the broader crypto market only managed 0.8%. That shows Solana is stronger than most coins right now. But whether this strength can carry Solana toward $280 depends on a mix of retail sentiment, derivatives activity, and spot flows. Retail Sentiment Pushes to an 11-Week High One of the biggest drivers for Solana right now is retail chatter. According to data from Santiment, traders on social platforms made 5.8 bullish comments for every one bearish comment. That is the highest ratio in 11 weeks, last seen back in June. Solana Enjoys Bullish Chatter | Source: X Why does this matter? In simple terms, retail sentiment is like the “mood” of everyday traders. When the majority are bullish, it often leads to more people buying in, hoping not to miss the move. This kind of momentum can be enough to push Solana through stubborn resistance zones. Still, history shows that retail excitement can be short-lived unless it is supported by other forces like derivatives demand or actual spot buying. Derivatives Show Leverage Building The second piece of the puzzle comes from the derivatives market. Open interest, which is the total amount of active SOL futures…
The post Solana Price Aims for $280 As Retail Bulls Watch the $213 Barrier appeared on BitcoinEthereumNews.com.
Solana (SOL) has had a very busy August. The Solana price moved higher at first, then gave back some of those gains, almost like forming three peaks on the chart. Each time it tried to push through, it got rejected. Currently, Solana clocking $212 at a day prior, the coin was in a downtrend. It was trading near $208 at the time of writing. This was after testing the once again testing the ceiling near $213–230, even as traders watched closely, this attempt may not be any different this time. On the year, SOL is up 47.2%. In the last 24 hours alone, it climbed 4.2%, while the broader crypto market only managed 0.8%. That shows Solana is stronger than most coins right now. But whether this strength can carry Solana toward $280 depends on a mix of retail sentiment, derivatives activity, and spot flows. Retail Sentiment Pushes to an 11-Week High One of the biggest drivers for Solana right now is retail chatter. According to data from Santiment, traders on social platforms made 5.8 bullish comments for every one bearish comment. That is the highest ratio in 11 weeks, last seen back in June. Solana Enjoys Bullish Chatter | Source: X Why does this matter? In simple terms, retail sentiment is like the “mood” of everyday traders. When the majority are bullish, it often leads to more people buying in, hoping not to miss the move. This kind of momentum can be enough to push Solana through stubborn resistance zones. Still, history shows that retail excitement can be short-lived unless it is supported by other forces like derivatives demand or actual spot buying. Derivatives Show Leverage Building The second piece of the puzzle comes from the derivatives market. Open interest, which is the total amount of active SOL futures…
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