📊 SOL may trade sideways in the short term; 106.22 is the breakout level
At 06:53 Beijing time on October 20, SOLUSDT perpetual was quoted at 105.15, up 1.25% over 24 hours, with a trading volume of 1.401 billion USDT. Binance market data (https://fapi.binance.com/fapi/v1/ticker/24hr?symbol=SOLUSDT)
The 06:33 snapshot showed OI down 1.5% from 24 hours earlier, a funding rate of +0.0092%, a 1-hour taker buy/sell ratio of 1.14, and an RSI of 59. Buying pressure was slightly stronger, but the rise came alongside declining open interest, so there is still no confirmation that the trend will continue; MACD has not been verified. Perpetual contract snapshot (https://bykaranteli.com/symbols/SOLUSDT)
SOL is likely to trade within a range over the next 4–24 hours. Support: 104.35 and 103.33; resistance: 106.22. A high-volume hold above 106.22 would put 106.97 in focus, while a break below 103.33 would signal weakness and invalidate the sideways outlook.
#SOL #Solana #SOLUSDT #Market Analysis
At 06:53 Beijing time on October 20, SOLUSDT perpetual was quoted at 105.15, up 1.25% over 24 hours, with a trading volume of 1.401 billion USDT. Binance market data (https://fapi.binance.com/fapi/v1/ticker/24hr?symbol=SOLUSDT)
The 06:33 snapshot showed OI down 1.5% from 24 hours earlier, a funding rate of +0.0092%, a 1-hour taker buy/sell ratio of 1.14, and an RSI of 59. Buying pressure was slightly stronger, but the rise came alongside declining open interest, so there is still no confirmation that the trend will continue; MACD has not been verified. Perpetual contract snapshot (https://bykaranteli.com/symbols/SOLUSDT)
SOL is likely to trade within a range over the next 4–24 hours. Support: 104.35 and 103.33; resistance: 106.22. A high-volume hold above 106.22 would put 106.97 in focus, while a break below 103.33 would signal weakness and invalidate the sideways outlook.
#SOL #Solana #SOLUSDT #Market Analysis