Solana recently surpassed the $200 mark, showing impressive strength despite significant SOL inflows to Kraken by the Pump.fun platform. This usually predicts a bearish market, but Solana's rally continues undeterred.
On January 1, Pump.fun deposited substantial SOL amounts to Kraken. While exchange inflows often signal potential price drops, Solana's demand remains bolstering upward momentum.
Solana broke above a descending parallel channel and its 20-day EMA, signaling ongoing bullish momentum and hinting at future price increases.
The MACD indicator also shows bullish trends, with potential for Solana's price to reach its all-time high. However, sudden sell-offs could halt the current rally.
