- Greg Majdini is expected to arrive from Ambda until Seoul could reach $ 200 in May.
- The benefit of the whale was positive but stagnant, as $ 160 was a major obstacle to overcoming it.
According to Amberdata Options Analysis Company, there were higher possibilities than Solana [SOL] Crossing $ 200 by the end of May.
In the company’s weekly market report, Greg Majadini, Director of Ambarda Derivatives, booksand
“The primary market will dictate the market at the present time, and therefore, I still think that purchasing these calls, which cost $ 200/30, as a great way to capture the edge.”
Call options are upward bets on the future goals of the asset (strike price). On the other hand, the options for putting dumping bets are considered to be a decrease in future prices for the original.
SOL – Decode the target price blades 200 dollars
Source: amberdata
According to Magadini, customer (market makers) was spending a long time at the Gamma level of $ 200, making it a major level to see it.
However, merchants were unable to a possible gathering of Seoul to reach the level because the asset options market was still relatively small compared to the instant market.
In addition, he pointed out that implicit fluctuations (expected price fluctuations in the future) have decreased significantly compared to the past weeks. This means buying call options now, which targeted the end of May, is cheaper and “decent”, repeated Majdini.
“The fluctuation has decreased a lot … again, a good argument for $ 200 for 30 days.”
He also pointed out that the direction of rotation from ETH to Sol and Pro-Crypto SEC could be Tailwinds for Sol’s superiority. Ampcrypto Outlook Sol/ETH.
From the beginning of this course in late 2023, the Sol/ETH ratio increased and an ascending channel formed. This means that Sol outperformed ETH in the past few months.
Source: Sol/ETH, Tradingview
In April alone, the performance of the Sol ETH prices exceeded 28 %. The trend can remain intact for the few months or weeks, unless the channel is broken.
On the price chart, Sol witnessed an increase in the whale’s interest, as shown from the Pisces Index opposite the Delta Ground Green stores.
However, the whale’s positions did not increase as much as the price approached $ 160. In order for bulls to target $ 200, resistance must be wiped.
Source: Hyblock
