Solana: 2 reasons why SOL is stronger now than before its ATH
Main Idea
Solana (SOL) is showing signs of potential upward momentum with minimal resistance above $200, supported by increased Open Interest and technical indicators suggesting a bullish trend.
Key Points
1. Solana is consolidating below the $200 breakout zone, with thin resistance above this level, indicating a healthier setup for sustainable upside.
2. Open Interest for SOL spiked to a year-to-date peak of $12.01 billion before cooling slightly, reducing the risk of a sharp downside liquidation event and suggesting strong market engagement.
3. Crypto analyst Ali Martinez notes that SOL faces 'little to no resistance' once it breaks past $200, with key support clusters between $165 and $176.
4. Technical indicators like the RSI (60.84) and MACD remain in bullish territory, though momentum has cooled slightly after the recent breakout.
5. A break above $200.59 could act as a launchpad for SOL to reclaim or surpass its previous all-time high (ATH).
Description
Thin resistance above $200 and renewed momentum hint at what could be next.
Latest News
- Tron gets Nasdaq spotlight: But here’s what TRX holders really need to know2025-07-28 04:15:12
- SUI bulls hold on as $5 comes into view – Can it happen?2025-07-28 03:08:09
- XRP Open Interest hits $3.9B, then drops fast: What happens if $3.2 breaks?2025-07-28 01:05:43
- Ethena’s $7.3B move: Is USDe the next center of gravity in DeFi’s stablecoin wars?2025-07-28 00:06:38
- Solana: 2 reasons why SOL is stronger now than before its ATH2025-07-27 23:09:48