- Solana’s (SOL) long-term buy zone is activated, signaling potential growth as corrections open opportunities for strategic investments.
- Institutional interest grows with Solana Staking ETP in Europe, while optimism rises for future spot ETF approvals.
In a post, popular TradingView analyst Alan Santana notes that following four weeks of bearish activity, Solana’s (SOL) buy zone has been activated. While noting that a test of the EMA55 as support could still happen before a possible bullish wave resumes, Santana says, “The chart looks good.”
As of writing, SOL is swapped hands at about $180.53, a 9.3% fall over the last 24 hours and a 17.96% correction over the last 7 days.
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Solana Correction: A Strategic Opportunity for Growth
Santana’s analysis emphasizes for investors the continuous decline as a turning point. The retrace turned into a correction. The fix opens the path for fair pricing of new purchases, he said. Emphasizing hope, he noted, “The corrections create a new long opportunity.”
Using these realizations, Santana revealed his own stance and went long on the SOLUSDT pair using great leverage. According to his projection, Solana’s increasing momentum will follow past trends characterized by several months of rise, a retrace, and more long-term increases.
Solana’s long-term development seems to be really bright. Since December 2022, Santana claims the coin has been in an upward trend with more highs and lows. Further supporting this encouraging trend is a short-term increase since August 2024.
Santana believes that Solana’s trend of higher lows will continue for an unknown length despite changes in the market.
Meanwhile, institutional interest in Solana keeps growing in Europe. According to CNF, Bitwise has started a Solana Staking ETP in the area to provide more profits for investors. Innovative financial products based on Solana are benefiting European investors, while regulatory hurdles in the US have slowed down comparable advances.
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