- The jump in open interest was pivotal to SOL’s rally in the last few weeks.
- The RSI dropped as the price strength weakened due to profit-taking.
- The $36.93 region could be a good entry point while buying momentum could lead SOL to $46.80.
Solana (SOL) tapped the lows of the market in 2022 due to its ties with the embattled founder of collapsed exchange FTX, Sam Bankman-Fried. However, 2023 has proven to be an amazing year for SOL, whose price action has been impressive over the last few months.
As a result, market players who turned their backs on the project earlier, now have their eyes on it. This is also one of the reasons that the ongoing Solana Breakpoint conference has gained a lot of traction. In turn, the SOL price has continued to keep its uptrend, gaining 19.12% in the last seven days.
Meanwhile, a pseudonymous research handle on X (formerly Twitter) called An Ape’s Prologue posted that the recent SOL pump is not just related to the conference. He explained that the approval for FTX to liquidate some of its assets also played a part.
$SOL Breakpoint RallyThe post Can Solana (SOL) Jump to $46.80 Despite FTX Liquidation? appeared first on Coin Edition.The recent market rally …