INSUBCONTINENT EXCLUSIVE:
Key point:Liquid Collective introduced a liquid staking token on Solana (SOL), in partnership with Coinbase, Kraken, Galaxy, Anchorage
The Liquid Staked SOL (LsSOL) will cater to the rising institutional interest in the network in anticipation of SOL-based exchange-traded
funds (ETFs) receiving US regulatory approval.Could growing demand among professional investors propel SOL above the overhead resistance?
successfully held on to the level during the retest.SOL/USDT daily chart
Source: Cointelegraph/TradingViewThe 20-day exponential moving average (EMA) ($157) has started to turn up, and the relative strength index
above $168, the SOL/USDT pair could ascend to the overhead resistance at $185
Sellers are expected to vigorously defend the $185 level because a break above it could catapult the pair to $210.This optimistic view will
be negated in the near term if the price turns down and breaks below the moving averages
The pair may then drop to $144 and later to $137.Related: Bitcoin digests US PPI win with $120K liquidity grab on bulls' radarSOL/USDT
Source: Cointelegraph/TradingViewThe bulls thwarted attempts by the bears to pull and maintain the price below $159
That suggests the $159 level has been flipped to support
Buyers strengthened their position further by pushing the price above $169
The pair could soar to the $180 to $185 resistance zone.Time is running out for the bears
They will have to quickly tug the price below the $169 level to trap the aggressive bulls
That may sink the pair to $159
The trend will tilt in favor of the bears on a break below $155.This article does not contain investment advice or recommendations
Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
