Mapping Solana’s move to $160 – Traders, what should you expect
The post Mapping Solana’s move to $160 – Traders, what should you expect appeared on BitcoinEthereumNews.com. Solana whale activity rises, but bullish crowd and derivatives sentiment remain strong. Breaking $160 could trigger rapid upside, while failure risks a pullback to $142. Solana [SOL] has seen significant whale activity recently, with a whale moving 135,000 SOL worth $15.72 million to exchanges over the past nineteen days. However, despite these large transfers, sentiment remains firmly bullish, both among retail traders and smart money participants. At the time of writing, Solana traded at $150.81, reflecting a 2.48% gain over the past 24 hours. Therefore, despite concerns over whale sell pressure, market participants continue to show strong confidence in Solana’s outlook. Derivatives market overview – Is rising volume hiding mixed signals? Solana’s derivatives market has shown notable growth, with trading volume rising by 9.32% to $11.64 billion. Additionally, Options Volume spiked sharply by 69.25%, suggesting increased speculative positioning in the options market. However, Open Interest (OI) dipped by 4.85% to $5.60 billion, a sign that some leveraged positions might have been closed. Therefore, while overall market activity is heating up, the open interest drop introduces a slight cautionary note. It suggests that not all participants are adding new positions aggressively during the current rally. Source: Coinglass SOL Funding Rate analysis – Is sentiment neutral or slightly bullish? The Funding Rate (FR) dynamics add another interesting layer to the current picture. At press time, the OI-Weighted FR sat close to neutral, at around -0.0006%, while Binance’s FR was slightly positive at 0.006%. Therefore, there is no strong shorting pressure weighing on Solana’s price at the moment. Additionally, the mild positivity in FR implies that buyers are not yet overextended. This balance supports the idea that Solana could maintain its momentum without facing an immediate wave of forced liquidations. Source: Santiment Technical price structure – Is SOL about to break $160? Solana’s…
The post Mapping Solana’s move to $160 – Traders, what should you expect appeared on BitcoinEthereumNews.com.
Solana whale activity rises, but bullish crowd and derivatives sentiment remain strong. Breaking $160 could trigger rapid upside, while failure risks a pullback to $142. Solana [SOL] has seen significant whale activity recently, with a whale moving 135,000 SOL worth $15.72 million to exchanges over the past nineteen days. However, despite these large transfers, sentiment remains firmly bullish, both among retail traders and smart money participants. At the time of writing, Solana traded at $150.81, reflecting a 2.48% gain over the past 24 hours. Therefore, despite concerns over whale sell pressure, market participants continue to show strong confidence in Solana’s outlook. Derivatives market overview – Is rising volume hiding mixed signals? Solana’s derivatives market has shown notable growth, with trading volume rising by 9.32% to $11.64 billion. Additionally, Options Volume spiked sharply by 69.25%, suggesting increased speculative positioning in the options market. However, Open Interest (OI) dipped by 4.85% to $5.60 billion, a sign that some leveraged positions might have been closed. Therefore, while overall market activity is heating up, the open interest drop introduces a slight cautionary note. It suggests that not all participants are adding new positions aggressively during the current rally. Source: Coinglass SOL Funding Rate analysis – Is sentiment neutral or slightly bullish? The Funding Rate (FR) dynamics add another interesting layer to the current picture. At press time, the OI-Weighted FR sat close to neutral, at around -0.0006%, while Binance’s FR was slightly positive at 0.006%. Therefore, there is no strong shorting pressure weighing on Solana’s price at the moment. Additionally, the mild positivity in FR implies that buyers are not yet overextended. This balance supports the idea that Solana could maintain its momentum without facing an immediate wave of forced liquidations. Source: Santiment Technical price structure – Is SOL about to break $160? Solana’s…
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