Consolidating Near $175 While Showing Mixed Market Signals
The post Consolidating Near $175 While Showing Mixed Market Signals appeared on BitcoinEthereumNews.com. TLDR SOL is the only top 10 cryptocurrency with a negative funding rate (-0.0002%) Long-term active addresses continue to grow, showing persistent user confidence Solana has been consolidating around the $175 supply zone for about two weeks A cup and handle pattern has formed, suggesting potential for a breakout Spot taker volume is shifting in favor of buyers, indicating bullish momentum Solana has positioned itself at a critical juncture in the cryptocurrency market. As of May 28, 2025, SOL stands out as the only top 10 cryptocurrency (excluding stablecoins) with a negative funding rate, registering at -0.0002%. While this figure appears small, it might indicate building pressure on the short side of the market. Funding rates serve as indicators of sentiment in derivatives markets. When these rates turn negative, it means short sellers are financing long positions, which typically suggests a mild bearish tilt. For Solana, this drop remains shallow but notable compared to the broader market, where most assets have maintained positive or neutral funding rates recently. Despite this short-term metric, Solana’s on-chain activity paints a more favorable picture. Long-term active addresses have continued their upward trajectory, demonstrating persistent confidence from committed users and investors in the network. This growing user base points to a healthy ecosystem that can potentially support price increases over the long term. It also suggests that the broader community remains active and engaged, even as some traders hedge short positions. From a technical perspective, Solana’s price has been consolidating around the $175 level for approximately two weeks. This zone has functioned as a key supply area where bears have executed several sell orders, accompanied by increasing trading volume. Solana Price on CoinGecko SOL has repeatedly tested this region in a choppy pattern without achieving a successful breakout. The extended consolidation, ongoing since May 9,…
The post Consolidating Near $175 While Showing Mixed Market Signals appeared on BitcoinEthereumNews.com.
TLDR SOL is the only top 10 cryptocurrency with a negative funding rate (-0.0002%) Long-term active addresses continue to grow, showing persistent user confidence Solana has been consolidating around the $175 supply zone for about two weeks A cup and handle pattern has formed, suggesting potential for a breakout Spot taker volume is shifting in favor of buyers, indicating bullish momentum Solana has positioned itself at a critical juncture in the cryptocurrency market. As of May 28, 2025, SOL stands out as the only top 10 cryptocurrency (excluding stablecoins) with a negative funding rate, registering at -0.0002%. While this figure appears small, it might indicate building pressure on the short side of the market. Funding rates serve as indicators of sentiment in derivatives markets. When these rates turn negative, it means short sellers are financing long positions, which typically suggests a mild bearish tilt. For Solana, this drop remains shallow but notable compared to the broader market, where most assets have maintained positive or neutral funding rates recently. Despite this short-term metric, Solana’s on-chain activity paints a more favorable picture. Long-term active addresses have continued their upward trajectory, demonstrating persistent confidence from committed users and investors in the network. This growing user base points to a healthy ecosystem that can potentially support price increases over the long term. It also suggests that the broader community remains active and engaged, even as some traders hedge short positions. From a technical perspective, Solana’s price has been consolidating around the $175 level for approximately two weeks. This zone has functioned as a key supply area where bears have executed several sell orders, accompanied by increasing trading volume. Solana Price on CoinGecko SOL has repeatedly tested this region in a choppy pattern without achieving a successful breakout. The extended consolidation, ongoing since May 9,…
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