Solana (SOL) might not reach a new all-time high in 2024 even with a great performance and rising adoption. Though SOL has demonstrated expansion, important signs point to a price that might not reach its highest point. Investors could have to wait until 2025 before SOL surpasses its $260 all-time high given various technical and market challenges against it. SOL valued less than $100 in the beginning of 2024. Within the first quarter, it shot to over $200, inspiring expectations of ongoing progress. The altcoin is currently having difficulties retesting those levels though; after reaching $208, it found it difficult to maintain its positive run. Investors wishing for a fresh record high could have to change their expectations for the rest of the year.
Decline in Open Interest Shows Lowered Speculation
A rise in open interest (OI), a crucial indicator of speculative activity, was one of the main factors allowing SOL to reach $208 earlier this year. The value of all open contracts on the market is known as open interest; it jumped to $2.65 billion when SOL reached $208, indicating the building of long positions. OI has dropped around $1 billion as of this writing, though, which implies that many traders have cut their Solana exposure. Rising prices and declining open interest usually point to a losing steam in an upward trend. Should this trend continue, SOL’s price could find difficulty retesting the $200 barrier before 2024 ends.
The $180 Supply Zone: A Significant Barrier of Opposition
The $180 supply zone represents even another major obstacle to SOL’s possible expansion. Historically, SOL approaches this level finds severe opposition and struggles to push higher without major purchasing demand. SOL struck $180 on April 9, then lost 23% of its value a few days later. Comparably, the token saw a similar fall when SOL once more hit $180 on July 30. This constant resistance level implies that should purchasing pressure fail to be sustained, even if SOL rises toward $180, a double-digit loss may follow.
Short-Term Bearish Signals: CMF advises a price below $130.
Technical indicators such as the Chaikin Money Flow (CMF) point to negative pressure in the near run. Currently indicating negative momentum, the CMF gauges levels of accumulation and distribution. A decreasing CMF suggests a possible adverse influence on SOL since more traders are selling than buying. SOL might tumble to as low as $127.75 before the year ends if the current trend keeps going. On the other hand, if open interest rises noticeably in the next few months, Solana may rally once more above $200. Still, SOL’s short-term future is yet unknown for now.
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Rexas Finance: A More Consistent Investment Prospect
Investors may be seeking more consistent options as Solana negotiates these swings. For those intrigued by blockchain investments, Rexas Finance offers a good choice. Rexas Finance lets users tokenize anything from real estate to intellectual property worldwide, therefore allowing them to tokenize actual assets (RWA). Rexas Finance presents a more consistent, inclusive, and open investing possibility than volatile coins like Solana. The ability of Rexas Finance to tokenize actual assets opens more access to usually illiquid markets, therefore facilitating more liquidity and new investment prospects.
Rexas Finance is leading in this field as blockchain technology develops since it provides investors with a more consistent and trustworthy choice than speculative cryptocurrencies. Rexas Finance has also made notable progress recently, therefore confirming its superiority as a choice for investments. With experts seeing great future potential, the continuous Rexas Finance presale gives investors an early access point into its network. As of writing, the presale is in stage 4 with 1 RXS priced at $0.060 and is 77.57% filled with a total of $3,969,865 raised out of $5,450,000 and 85,331,066 tokens sold out of 110,000,000. Rexas Finance also started its Millionaire Giveaway, which gives presale attendees the chance to win large. Furthermore, the recent CoinMarketCap listing gives the project more validity and raises awareness among the crypto community.
Last Thought
Rexas Finance is a more interesting substitute even if Solana’s pricing suffers with resistance and changing market indications. Rexas Finance is a more consistent investment in an otherwise erratic market since it can tokenize actual assets and offers a range of interesting developments like its presale and CoinMarketCap listing. Rexas Finance offers a forward-looking and dependable investment alternative for those looking for long-term blockchain development, as SOL deals with continuous difficulties.
About Rexas Finance :-
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