- The most recent offering from Binance provides an annual percentage rate (APR) of 8.9% on SOL.
- In the event that there is a potential movement in the market, Solana may experience a decline, with primary support located at $152 and $134.
For fans of Solana, Binance has released an enticing upgrade that includes a profitable chance in its Locked Products feature.
By subscribing to SOL on Simple Earn Locked Products, Solana Hodler can earn up to an astounding 8.9% in Annual Percentage Rate (APR) incentives between March 25th, 2024, at 10:00 UTC and April 25th, 2024, at 09:59 UTC.
Considering that each user only needs to subscribe for 0.01 SOL, this campaign is meant to be available to a broad range of investors.
Daily prize delivery also adds to the promotion’s allure by giving participants steady incentives all through the campaign. This expands on what I already mentioned in a previous ETHNews report.
#Binance has launched a Locked Products update on @Solana!
Complete subscriptions to $SOL Locked Products to get up to 8.9% in APR rewards.
Get started ⤵️
— Binance (@binance) March 25, 2024
Solana Faces Correction Amid Bullish Market Conditions
In contrast to Binance’s alluring offer, the overall state of the cryptocurrency market, particularly for Solana (SOL), indicates that a possible decline may be approaching. Though the market appears to be generally optimistic, technical indicators suggest that an immediate upward trend for SOL is less likely.
Solana is seeing a decline following a brief surge to $200, which occurred during the bearish period that started in early November 2021 and saw a strong increase.
The $152 weekly base and the strategic $134 level are two key support levels for SOL that the cryptocurrency community is closely monitoring.
The latter is the median of the previous bear market’s decline and so acts as a critical accumulation point. But, given the current optimism in the market, it does not seem likely that SOL will decline to such levels.
Breaking $200 is crucial for Solana, as it would suggest a continued upward trajectory. However, Solana’s future depends on Bitcoin’s performance, so any fall could hurt SOL.
If SOL breaks through $134, it would signal a shift in market mood and possibly lead to widespread panic selling.
The bullish narrative would be drastically altered if SOL concludes a week below $100, perhaps leading to a decline below the $89 support level and challenging the commitment of even the most ardent Solana supporters.
On press time, the price of SOL had increased 8.55% in the past day to $190.32. That is, however, a decrease of 6.70% over the previous week.