Main Points:
The company listed in the NASDAQ Defi Development Corp on Monday that it obtained 141,383 Solana (Sol) between July 14 and July 20, strengthened its treasury ark with 999,999 sol. The company said it had $ 5 million in its disposal for future SOL purchases.
Another positive sign for Sol is the SSK, the Sol Staking Exchange-Traded Fund (ETF) from Rex-OSPREY, Crossed $ 100 million in possessions under management Within 12 days of trading after its launch on July 2.
Can Buy Treasury and ETF Boost Sol? Let’s review the charts to find out.
SOL PRICE OF THE PREMANCE
Sol reached $ 209 resistance on Tuesday, where the Bears were mounted by a strong defense.
The first downside support is at $ 185. A solid rebound off $ 185 suggests that bulls are trying to flip the support level. Which improves prospects of a break above $ 209. If that happens, the SOL/USDT pair may move forward to $ 240. There is a resistance to $ 220, but it is likely to cross.
This positive outlook is not valid in the near term if the price continues to lower and break below the 20-day exponential transfer of average ($ 172).
Related: How high is the price of XRP from the $ 3.66 multimonth high?
The pair started a pullback, which sank below the 20-em in the 4-hour chart. That suggests short-term buyers booked revenue. The next support is at $ 185, which is an important degree to guard. If the price turns from $ 185, the pair can retest a $ 209 level. A break above $ 209 can continue to be able to end up.
On the other hand, a break below the 50-simple transfer of the average signal at the start of a deeper correction to $ 170.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
