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DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please . TLDR Solana’s price is consolidating in a symmetrical triangle, with a likely bullish breakout targeting $292. Rebel Satoshi Arcade gains traction with its innovative NFT integration and staking system, attracting investors seeking high returns in the crypto gaming sector. RECQ’s successful presale and strategic pricing make it a compelling investment. The price of Solana (SOL) has been trending inside a symmetrical triangle, which can resolve in either direction. Notably, given its preceding uptrend, the triangle will likely break out to the upside. This could result in a 63% rally to $292, with potential resistance at $157, $196, $228, and $267. Despite the current outlook of the market, the trading volume for Solana went up 153%, clearly showing more interest from investors. Statistics substantiate this spike of activity on the network, as the number of active addresses on the network itself touched an all-time high of 41.65 million in May. According to The Block, June active addresses have reached half of those recorded last month. The Aggregated Solana Open Interest (OI) has recently been on a downtrend, indicating that money flows out from the asset. On the other hand, at $1.36B, SOL OI shows solid support from which money may flow back into the asset once more.  Solana’s price action is trending below the 50-day but above the 200-day simple moving averages (SMA), showing there may be some struggle between the bulls and the bears. The 200-day SMA provides support, while the 50-day SMA provides resistance. A break to the upside from the symmetrical triangle could result in a large price appreciation and…

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Filed under: News - @ June 22, 2024 10:06 am