Solana Investments Reach $16 Million: SOL Price Remains Above $200
Date: 2025-02-11 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
On February 10, the Solana spot market recorded an inflow of $16 million in investments. This was the first significant capital injection in the last ten days, indicating an increase in market participants' confidence in this asset.
Such dynamics indicate a strengthening of the bulls' position and a positive mood among investors. Growing interest in SOL may contribute to further strengthening of its rate, supporting optimistic expectations regarding the future of the cryptocurrency.
The Balance of Power (BoP) indicator, reflecting the ratio of buyers and sellers, shows a positive value of 0.23. This signals an increase in the activity of bulls, who continue to accumulate SOL. In conditions of increased demand, the upward trend can be expected to continue.
At the time of writing, the Solana price is $204.91, which is 1.2% higher than the previous day. The chart shows that the token is testing the support zone at the lower boundary of the ascending channel, within which it has been moving for several months.
If the SOL rate holds above this level, we can expect increased buying interest, which will potentially lead to growth to $ 258.66, confirming the bullish momentum. However, a breakout below the support may weaken the bulls' position and provoke a correction up to $ 113.88.
Further price action of Solana will depend on the dynamics of demand and the general state of the cryptocurrency market.
