- Solana and Defi Momntum Pisces support the upscale collapse if $ 144 is violated.
- The negative Sol financing rate shows a short bias, which increases the possibility of mobilizing pressure.
Solana [SOL] It has seen a precise increase, but the promising whale activity.
Governor that carries more than 10,000 Sol rose 1.53 %, climbing from 4,943 to 5,019. At the time of the press, Sol was traded at $ 139.29, which represents a modest increase of 0.57 %.
Of course, this increase has alluded to the renewed confidence of the big investors – as Sol is close to a technically sensitive area.
Can this benefit the growing whale pushing Seoul beyond the monotheism area and ignite continuous collapse?
Is the cup pattern prepares and the handle is to hit?
Solana’s last outlook formed over the descending trend line of the Cup of Cup and Cupwoman Cup.
This bullish structure, which is currently approaching the resistance of the neckline at $ 144.40, indicates a possible continuation of the upward penis if broken.
The handle is developing within a narrow range, and the price is currently celebrating near $ 139, keeping the bulls within the reach of the basic trigger.
A strong closure over the neckline can verify the validity of this setting and expose higher levels such as $ 179.48, while failure in the breach may lead to another unification stage ranging between $ 135 and $ 140.
Source: TradingView
Do merchants reduce Solana momentum?
While the movement of price and the behavior of the whale looks constructive, the derivative data tells a different story.
OI’s weighted financing rate decreased to -0.0116 % on April 20, indicating that short traders are gaining dominance across the permanent future markets.
Of course, this negative financing often stems from the lack of ratification of the assembly or attempts to fade the recent gains. But when associated with a strong spot accumulation, this imbalance can pave the way for short pressure.
Source: Coinglass
Does the flows in the outbreak of the spot hint?
Moreover, the staining flows seemed constructive.
Liquidity flows remained supportive, as the total instant flows reached 96.27 million dollars, and slightly exceeding 88.36 million dollars in foreign flows on April 20.
Although the net difference seems modest, consistent flows reflect the constant accumulation of market participants.
This flow, when it is in line with the growth of the whale wallet and structural chart settings, adds more weight to the upper thesis.
Unlike the markets of derivatives, where the feelings remain careful, it seems that the participants in the spot are putting in a long -term position.
Source: Coinglass
Can the Defi growth enhance Seoul’s potential?
Moreover, support for Solana Defi activity. The total closed value of the network (TVL) increased by 3.11 % in just 24 hours, which paid more than 9.018 billion dollars.
This rise in the protocol activity indicates that Solana regains the importance of the market, especially between liquidity providers and decentralized applications.
With capital recycling in Blockchain, which indicates real use, the strong Solana recovery supports the broader upward issue.
Source: Devillama
Will the whale and momentum be tolerated above?
Put together – whale holders, solid spot flows, and revived Defi activity – it seems that the structure of Solana is increasingly favorable.
While the financing rates are still frequent, they may serve as an ideal contradictory indicator.
Clean interruption can turn short pressure to momentum, and the price pays about $ 179.48. However, the bulls must first confirm control by restoring the resistance and maintaining the size.
