Whale futures demand fit make Solana (SOL) reach $223
Solana (SOL) jaga reach seven-month high of $211 on August 24 before e settle for $209, wey mark monthly and weekly gains of 16.9% and 8.2%. Big whales comot 20,000 SOL ($4.09 M) from Kraken go Kamino for $3 M USDC loan, then dem move di money go OKX, wey show say dem dey do strategic DeFi leveraging. Whales dominate futures market wit four days straight of “Big Whale Orders” and push open interest reach record high of $12.9 B, increase by 5.14%. Long/short ratio reach 1.02, meaning say 50.6% of contracts na longs as traders dey bet say price go still go up. But spot netflow jump reach three-month high of $76 M exchange deposits, mean say more people dey take profit and e fit cause price to drop. Technical indicators turn bullish: Directional Movement Index pass 29 and Relative Vigor Index rise reach 0.056. If whales keep demand for futures, SOL fit test $223 resistance before month finish; if momentum reduce and profit-taking continue, e fit make price comot back go $186.
Bullish
Solana dem dey classified as bullish because of strong whale involvement inside futures market dem, all-time high open interest wey reach $12.9 billion, plus bullish momentum signals wey DMI and RVGI crossovers show. Historically, concentrated whale futures positions don always come before big rallies for both SOL and BTC, wey reflect say market get confidence. Even though the elevated spot netflows fit mean say some people dey take profit, the big holders still get long bias, mean say potential for price to go up still dey. For short term, if e fit pass the $223 resistance, e fit show say the upward trend go continue; if e no maintain momentum, e fit drop corrective to like $186.