Main meals:
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Historical chart patterns and Fibonacci.
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Negative financing rates of $ 7.5 billion from Solana can be an open interest, and negative financing rates may be a sign of a strong short pressure.
Solana (SOL) tested the resistance level $ 180 on May 11, but it has since below this main threshold and it appears to be unable to create an ongoing upward position. However, Altcoin has maintained a positive signal by closing over the SIA moving average for 50 weeks (EMA) for three consecutive weeks. This critical level was historically as an incentive for large prices.
In late 2023, the EMAS Sol penetrated for 50 weeks and 100 weeks, which increased its position above these levels before an increase of 515 % by March 2024. The relative strength or RSI indicator on the weekly graph is currently at 52.60, indicating increased purchase pressure.
This setting reflects the previous patterns as the Sol broken over EMA for 50 weeks and collects greatly. As the current technologies align, Sol appears to be ready to re -test the level of $ 300 by late 2025, which is a major psychological and historical resistance.
Using Fibonacci (FIB) extensions, the potential trend of Sol can be more convincing. The FIB extension, which was transferred to the highest level of January of $ 295 from the lowest levels of the last swing near 95 dollars, shows an immediate goal of about $ 300, or an increase of 70 %.
Once the SOL price is to detect prices, the bullish momentum can target 1.618, indicating that Sol may reach 418 dollars. However, the failure to keep EMA for 50 weeks can cause Sol to re -test in low support near $ 157.
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Solana Traders is discussing the catalyst for Sol
While Solana continues to circulate nearly 40 % less than its highest level ever, the Sol Futures market activity is still strong. According to Coinglass, Solana Futures Open interest (OI) It is 7.5 billion dollars Less than one billion dollars only from January 19, 2025, peak 8.5 billion dollars. UA levels are usually significantly indicated, increasing speculation interest and indicates that traders define significant fluctuations in prices.
Exchange financing rates also turned into negative, indicating a tendency towards short sites as Sol is struggling to restore the main resistance of $ 180. While this often reflects the declining feeling, it also opens the door for possible short pressure.
Future analyst for coding byzantine General Duplicate By the current market conditions-which are characterized by an OI height, the altitude of the combined size, and relatively traditional exchange financing-indicates that the Sol price may be stable. He pointed out that this preparation can stimulate a sharp upward step, with the possibility of an outbreak towards the level of $ 300 in the event of the construction of momentum.
However, there is a justification for caution. A prominent merchant Karl Moon A mark has been placed A possible double pattern on the graph for 4 hours. If the pattern is turned on, the trader warns that Sol can reconsider $ 157 to $ 152 in the short term.
The level of $ 180 remains the point of reflection. The decisive step over it may confirm an upward continuation, while rejection may lead to a healthy correction to a range between 150 and 160 dollars.
Related: Ether price moves to 3 thousand dollars after Sharplink adopts the “Treasury Strategy”
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
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