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SOL recent trading volume has shown unusual activity, with 30-minute trading volume skyrocketing by 73.7%, indicating a significant increase in market activity.
As of now, SOL is priced at 122.68 USDT, with a key support level at around 122.7, only 0.54% away from the current price. A broader support zone is between 122.45 and 123.55, which is close enough to serve as a potential area of interest for bulls.
From a technical perspective, a sharp increase in volume often signals market sentiment gathering momentum, and a move may be imminent. In this context, traders might consider placing buy orders near the 122.7 support level, but only if they closely monitor the subsequent price action.
Of course, volume anomalies are just a reference signal, and a true breakout requires confirmation from price levels. Keeping a close eye on SOL's performance during this period could present opportunities.