Summary:
- Bitmex has added SOL/USDT to its spot markets
- Users can also convert Solana to USDT and vis versa on Bitmex
- Solana is attempting to reclaim the 50-day and 100-day moving averages as support
Solana’s availability to traders and investors got a significant boost as Bitmex announced that it had added SOL/USDT to its spot markets. The team at Bitmex said:
Last week, we added support for USDT on the Solana network. Fast forward to now, and Solana (SOL) has arrived at BitMEX.
This latest addition means that from today, users can now trade, deposit, withdraw, convert, and buy Solana on BitMEX. What’s more, it’s just one of many cryptocurrencies to arrive on our platform in the coming weeks and months – so stay tuned.
Solana Conversions Also Supported by Bitmex
In addition, Bitmex has also opened conversion of SOL into USDT and vice versa, with no hidden fees. Conversions on Bitmex are instant with no hidden costs and are almost instant.
Solana is Attempting to Reclaim the 50-day and 100-day Moving Averages as Support.
In terms of price action, Solana is exhibiting some signs of strength on the one-day SOL/USDT chart. The digital asset is attempting to reclaim the 50-day (white) and 100-day (yellow) moving averages as support at current levels around the $35 price area.
Also, from the chart, it can be observed that the daily MFI (green) is in oversold territory at a value of 38. The daily RSI is in neutral territory at a value of 56, with the daily MACD hinting at a slight bullish reversal that might gather momentum with the new month of October.
As a result, Solana could manage to blast through the 50-day and 100-day moving averages and move towards the 200-day (green) average in the first few days or weeks of October.
However, a close eye on the traditional markets is recommended as a dip by the S&P500, or the Nasdaq could ultimately result in Bitcoin again trading below $20k and Solana heading in a similar direction.
© Solana Daily Brief, Inc. All Rights Reserved. This article is for informational purposes only. It is not to be used as legal, tax, investment, financial, or other advice.