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Click to follow the daily password👇No threshold, no income QQ：3530882667 SOL has risen to the highest point since June, and the market sentiment is actually not as pessimistic as the chart looks. Institutional funds have been flowing in steadily, and derivatives data have also changed slightly. Are traders preparing for subsequent market trends? Demand for the Solana ETF has been strong, with inflows continuing even as spot prices fell to multi-month lows. Positive net inflows can be maintained on most trading days, with peaks exceeding 60 million on October 28 and November 3. The current total net assets are approximately 541 million, and there has been no large-scale withdrawal of capital.  Source: SoSoValue Although SOL's capital inflows have decreased in recent days, there has been no reversal, and cumulative demand has remained stable even as the market fell. Big investors' interest in it hasn't waned either. AMBCrypto previously reported that VanEck has submitted Form 8-A to the US SEC. Its highly anticipated Solana spot ETF may be launched soon. However, the strong momentum brought by ETF funds is in great contrast with the SOL weekly chart - SOL's price momentum has been weakening. The altcoin fell below its 50-week moving average at $176 and also tested the 100-week moving average near $157, a range it last touched in June. Selling volume has increased for two consecutive weeks, and prices have continued to come under pressure.  Source: TradingView The RSI indicator is almost oversold, the MACD cross is getting bigger, and the red column is getting deeper. The overall trend is still downward now, and SOL must regain its footing in the mid-$150 range for the long-term market to be stable. Also, the data on derivatives has become stable.  Source: Coinalyze SOL's total open interest has been fluctuating between $2.94 billion and $2.95 billion this week, and even if the spot price weakened, there was no liquidation-induced decline. Open interest is stable, indicating that leverage has not been removed quickly. In the past, the financing interest rate was mostly negative, but now it has returned to above zero, about 0.0084. Perhaps after a few days of caution, the bulls are starting to come back. Instead of continuing to reduce risk, traders re-entered the market. That’s it for today’s article, see you tomorrow. QQ: 3530882667 |
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