Solana’s Market Movements and Analysis

According to Coinglass data, Solana (SOL) gained 11% in the last 24 hours, reaching $145.12. This increase led to the liquidation of some short positions in the futures market. According to CoinMarketCap, prior to Bitcoin’s halving event, Solana ranked among the top five cryptocurrencies by market value, achieving double-digit gains.

Market Dynamics of SOL

In the last 24 hours, Solana’s short liquidations amounted to $13 million, while long liquidations were recorded at $9 million. Daily chart analysis of SOL suggests that the current rally may be short-lived. Furthermore, the bearish sentiment among market participants continues to hold back the rally. The SAR indicator for SOL indicates that the bearish trend may continue.

Technical Indicators and Future Expectations

The price of SOL shows a bearish trend according to MACD line analysis, indicating a transition from the rise on March 22. However, the Chaikin Money Flow (CMF) indicator reveals that despite the decline in SOL’s price, buying interest persists, indicating a potential rise.

Useful Information

An 11% increase in the last 24 hours for SOL resulted in the liquidation of short positions.
SOL was the top gainer among the top five cryptocurrencies before the Bitcoin halving.
Technical analyses indicate that SOL’s rally may be short-lived and the bearish trend may continue.
MACD and SAR indicators provide important information about current market trends.

In conclusion, Solana’s performance in the market contains dynamics that investors should carefully monitor. While there is short-term profit potential, caution should be exercised regarding long-term trends.