- The accumulation of whales and the activity of the network have aligned themselves to support Solana’s attempt to break over $ 145.
- The activity of prudent derivatives and neutral funding suggest that traders expect a confirmed decision before doubled.
Solana (soil) The momentum of the market is accelerating as activity on the chain, the development of interests and whale entries brush a bullish story for the layer of layer 1.
Solana continued to increase up, trading at $ 138.13 at the time of the press, after a daily gain of 3.00%. Naturally, this has extended its monthly climb to more than 40%, showing growing momentum at all levels.
After several weeks trapped in a downhill channel, Sol broke out and negotiated just below a strong resistance zone between $ 138 and $ 145.
This area previously acted as a major supply area, and the bulls are now trying to overthrow it.
The structure in small groups suggests that reversal can already be in progress, supported by stockings and a volume increasing constantly higher.
However, confirmation requires a decisive daily fence greater than $ 145, which could trigger an prolonged rally to the next major resistance at $ 180.
Given the previous refusals in this region, the current retest is a central moment for the short -term trajectory of Solana.
Source: tradingView
Solana: 2 fuel dynamics factors
Of course, the price action did not move in isolation. Large -scale movements have validated the change of feeling.
Galaxy Digital has withdrawn 606K Sol, worth $ 79.7 million, exchanges and marks 462K soil (60 million dollars), strengthening long -term conviction among institutional players.
In addition, network measures show significant growth, with 29 million active addresses recorded – an increase of 17% and 374 million total transactions, exceeding all other combined chains.
In addition, DEX volumes reached $ 2.27 billion per day, exceeding Ethereum (ETH), while transaction costs jumped from $ 42% to $ 7.67 million.
This increase in chain demand reflects not only the increase in the adoption of users, but also the expansion of utility through the SOLANA DEFI and NFT ecosystems, which collectively improve the sustainability of the current trend.
Accumulation of prudent leverage
While the cash market dynamics strengthen, derivative data show that traders remain carefully optimistic.
Open interest jumped from 10.71% to $ 5.57 billion, while the volume of options increased from 164.97% to 2.55 million dollars, which indicates an increasing interest in directional games.
However, the total volume fell by 31.89% and the open options dropped by 15.20%, which suggests that traders participate selectively, possibly covered with positions or awaiting confirmation.
This hesitation aligns with the critical nature of the level of resistance of $ 145.
Source: Coringlass
Change of market feeling?
Liquidations offered additional information.
Short liquidations have reached $ 5.57 million, compared to only $ 81.9,000 in long positions, reporting that the sellers were caught in the recent rally.
Source: Coringlass
This imbalance reveals a strong ascending pressure, perhaps powered by a short pressure.
However, funding rates have remained neutral to slightly negative, showing that if prices are increasing, many traders still hesitate to grasp long aggressive positions.
Will bulls get a break?
In simple terms, Solana stood at a critical moment. Its upward structure was supported by strong techniques, a whale conviction and a rise in the chain.
However, the resistance area of $ 145 remained both a psychological and technical barrier.
If the bulls manage to overthrow it, Sol could be ready for a quick movement around $ 180.
Until then, the market has oscillated at a inflection point – buyers gain land, but still need confirmation to assert domination.
