SOL Preps For Rally To $260, Here’s What Must Happen

Main meals:

• Sol Futures and financing rates show moderate optimism, but there is no strong fasting position yet.

• Network activity and ETF expect the bullish trend, but confidence between the big players is still silent.

Solana’s original symbol, Sol (Sol), gathered 28 % in three weeks, creating some positive momentum after nearly two months of the Habbudian price movement. The move sparked moderate optimism in Sol derivatives, although whales and market makers have not yet turned up. Traders are now wondering what a new crowd can open about $ 260.

The current annual financing rate is 16 % for Sol moderate enthusiasm from retail traders but is still within a healthy scope. Under neutral conditions, the annual financing rate of permanent contracts usually ranges between 5 % and 15 %, indicating that long positions pay a premium to maintain exposure.

Despite the last 28 % price increased, Sol failed to capitalize the broader Altcoin market.

For example, ETHER (ETH) increased by 51 % over a period of three weeks, while XRP jumped by 41 %. So, although Sol is now near its highest level in five months, at about 190 dollars, merchants do not show strong excitement.

Sol needs the growth of the network and increased the feeling of reaching 260 dollars

While the upcoming positions of benefit are not necessary in favor of Sol to restore the level of $ 260, without renewed confidence, the sale of the sale may continue. Sol performance continues greatly on the Solana network, which remains 85 % less than January levels.

On the bright side, the Solana network fees have increased by 27 % in the past thirty days, while many competitors have seen the stagnation or sharp declines. The BNB series, for example, a 30 % decrease in the fees, the base, which saw the leading Layer-2, a 19 % decrease.

Solana produced $ 32.9 million in network fees over 30 days, with a total total value of $ 12 billion (TVL). In comparison, Ethereum has $ 91 billion in deposits, according to Devilia. These numbers are promising to Sol holders, given that the return on the network’s revenue.

Neutral Sol Contracts: The bear has ended

To measure whether professional traders are preparing for the idea of gathering to $ 260, it is worth examining the monthly futures market. Under the neutral market conditions, these contracts are usually traded by 5 % to 10 % on instant prices, which represents the longer settlement period.

On Monday, the Sol’s Futures Futures for 3 months reached the 6 % neutral level for the first time in five months. It is worth noting that the failed penetration attempt that exceeds 200 dollars on Wednesday did not affect the expectations of merchants. While the mood is still far from ascending, this transformation represents a clear departure from the previous homosexuals.

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Investors closely monitor the potential approval of multiple funds on the Stock Exchange (ETFS) by the US Securities and Exchange Committee (SEC). Such a step can open the institutional demand, which reflects the success of the ETHER ETFS and building on current products as Rex-AOSPRAY SOL StAKING ETF (SSK).

Registered under the 1940 Investment Company Law, SSK ETF does not require the presentation of the typical SEC S-1 file. Since its launch on July 2, $ 130 million has accumulated in management assets. Looking at Solana’s powerful network activity and increasing expectations for the immediate ETF approval in the United States, the possibility of reaching Sol reaches 260 dollars in the short term looks strong.

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