The post Breaking Technical Barriers as Options Market Signals Bullish Momentum appeared on BitcoinEthereumNews.com.

TLDR A major options block trade on Monday indicates institutional betting on SOL reaching $400 by February’s end, representing a potential 55% increase from current $257 levels The trade was structured as a bull call spread with 10,000 contracts each at $280 and $400 strike prices Solana has broken above key resistance levels at $240 and $250, showing renewed momentum Technical indicators like MACD and RSI suggest bullish sentiment in the short term Price is currently facing resistance at $262, with major support levels at $250 and $240 A substantial options block trade executed over-the-counter on Monday reveals strong institutional interest in Solana’s potential price movement. The trade, conducted through Deribit via the OTC network Paradigm, suggests expectations for SOL to reach $400 by the end of February 2025. The specific trade structure involves a bull call spread with 10,000 contracts at each leg. The position includes a long position in the $280 call option and a simultaneous short position in the $400 call option, both set to expire on February 28, according to data tracked by Amberdata. The scale of this options trade has drawn attention from market analysts, as block trades typically serve as indicators of institutional activity. The trade’s structure indicates the buyer expects SOL’s price to move beyond the $280 mark and potentially reach $400, representing a 55% increase from current levels around $257. Greg Magadini, Amberdata’s Director of Derivatives, notes that the trade’s breakeven point sits near $300. This means the buyer needs the price to surpass this level to start seeing profits, with maximum gains achieved if SOL reaches or exceeds $400 by the expiration date. Technical analysis supports this bullish sentiment, with SOL recently breaking above several key resistance levels. The price has successfully moved past both $240 and $250, establishing new support…

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Filed under: News - @ January 22, 2025 2:23 pm