- Solana’s forming a Cup and Handle, and no, that’s not something from your Bubbe’s china cabinet. Translation: It might just rocket past $300 faster than you can say “bagel and lox.” ☕🥯
- Forget those other blockchains — Solana’s flexing with more Active Addresses and Transactions than a deli at lunchtime. 🍔
Solana [SOL] has become so hot with investors, you’d think it was giving out free toasters. Price shot up 8.74% in 24 hours—a number that’ll make your broker do a spit take.
The market minds have spoken: SOL’s ready for a big breakout in the next trading session. Can it pull it off, or will it trip over its own blockchain shoelaces?
A big, fat price swing coming for SOL?
SOL looks like it’s prepping for the grand shlomo of price swings—a new all-time high that would make even your cousin Larry jealous.
Picture this: a cup and handle pattern. Sounds like kitchenware, acts like rocket fuel. Historically, this is the “hold on to your toupee” moment before things get wild.
But before Solana can buy a nice condo in Miami, it’s gotta bust through that $170 resistance—currently harder than getting a cab in Midtown. And it won’t stop until it breaks its former high score of $294.33.
If the stars (and investors) align? Next pit stops are $300, $400, $500, and possibly somewhere near Mars.
AMCrypto highlighted what’s fueling SOL’s journey. Faster than you can say “I should have bought earlier.”
On-chain activity: SOL throwing a blockchain party
According to the crypto intelligentsia at Nansen, Solana led the activity charge this week: 21.75 million Active Addresses. That’s more people than at a New York City subway station at rush hour.
These active folks managed a whopping 415 million transactions. Maybe somebody’s cousin is just clicking refresh, but hey, numbers are numbers.
If SOL keeps this up, we’re looking at even more hype. Forget IPOs, this is CBC: Cryptocurrency Broadway Chorus. 👯♂️
The derivative drama: More action than a Mel Brooks slapstick
And in derivatives? It’s like a pie fight at a wedding. Buyers stormed in, with a Long/Short Ratio of 1.0525—tips the scales in favor of optimists (or crazy people, who can tell?).
Bigger bets, bigger open positions: $5.2 million open in options; $6.19 billion in futures. You need an abacus and a stiff drink just to keep up.
Suddenly, volumes shot up 548.89% to $2.26 million in options, and 75.65% to $19.04 billion in futures. That’s enough action to make your accountant cry tears of joy (or confusion).
The result? More volume, more open interest, price moving up—Solana’s still throwing punches, and if it doesn’t run out of steam, this rally could stick around longer than your in-laws after dinner. 🏆
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2025-05-09 19:11