SOL eyes $200 as Open Interest hits a new high of $10.7B
Main Idea
SOL's price is approaching $200 as its Open Interest reaches a record high of $10.74 billion, with bullish indicators suggesting potential further gains.
Key Points
1. SOL is trading at $191, up 6% in the last 24 hours, with bulls targeting levels above $200.
2. Solana's Open Interest hit an all-time high of $10.74 billion, indicating strong market interest and potential price upside.
3. The SOL/USD 4-hour chart shows bullish signals, with MACD in the positive zone and RSI at 81, nearing overbought territory.
4. Solana's Total Value Locked (TVL) rose to $10.26 billion, up 5.78% in 24 hours, reflecting growing adoption.
5. Key resistance levels for SOL include $220 and the January high of $294, while support lies at $176 and $169.
Description
Bitcoin hit an all-time high of $123k last week and has stabilized around $118k over the last few days. Altcoins have now taken over, with most of them recording double-digit percentages over the past few days. Ether hit the $3,800 mark over the weekend and is now targeting its all-time high price of $4,891. XRP also hit the $3.66 mark on Friday, its highest level in eight years. Solana’s SOL could be the next coin to break out after adding 13% to its value over the last seven days. Solana’s Ope...
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