According to CoinMarketCap, the value of SOL decreased by 4.76% in the last 24 hours, indicating how the sustenance of an upward trajectory has been filled with struggles.
When volume decreases alongside price, it means that the downtrend is becoming weak. Hence, an upward reversal could be likely.For SOL, it is possible to see a bounce in the value within the next few days. If this is the case, bulls might try to pull the price up to the $200 region.that the potential rally might not be smooth. But notwithstanding, SOL might hit the zone before March ends or in the first few days of April.
When Open Interest increases, it means net positions and liquidity added to the derivatives market have increased. On the other hand, a decrease in OI suggests a surge in closed contracts.Typically, this gives a bearish inference. However, the OI decreased around the same period, indicating that shorts were aggressive.
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Source: CryptoAmb - 🏆 22. / 68 Read more »