- The activity of Solana whales increases, but the optimistic feeling of the crowd and derivatives remains strong.
- Breaking $ 160 could trigger a quick increase, while failure risks a decline at $ 142.
Solana (soil) has experienced a significant whale activity recently, with a whale moving from 135,000 soil worth $ 15.72 million to exchanges during the last nineteen days.
However, despite these large transfers, the feeling remains firmly optimistic, both among retail merchants and participants in smart money.
At the time of writing the editorial staff, Solana exchanged $ 150.81, reflecting a gain of 2.48% in the last 24 hours.
Consequently, despite the concerns about the pressure of whales, market players continue to show great confidence in Solana’s perspectives.
Presentation of the derivative market-Does the increase in volume hide mixed signals?
The Solana derivative market has shown significant growth, the negotiation volume increasing 9.32% to 11.64 billion dollars.
In addition, the volume of options increased sharply by 69.25%, which suggests an increase in speculative positioning on the options market. However, the open interest (OI) fell 4.85% to $ 5.60 billion, a sign that certain lever -effect positions could have been closed.
Consequently, while the overall market activity heats up, the drop in open interest introduces a slight warning. This suggests that all participants do not add new positions aggressively during the current rally.
Source: Coringlass
Analysis of the soil financing rate – Is feeling neutral or slightly optimistic?
The dynamics of the financing rate (FR) adds another interesting layer to the current image.
At the time of the press, the weighted FLU was seated near the neutral, at around -0,0006%, while the BR of Binance was slightly positive at 0.006%. Consequently, there is no high short-circuit pressure weighing on Solana’s price for the moment.
In addition, slight positivity in FR implies that buyers are not yet too extensive. This balance supports the idea that Solana could maintain its momentum without facing an immediate wave of forced liquidations.
Source: Santiment
Structure of technical prices – Sol is it about to break $ 160?
The Structure of Solana prices shows a notable force after having bounced from the support and rallying above the parabolic SAR at $ 142.25. At the time of writing the time of the editorial staff, Solana maintained a firm socket above SAR support.
In addition, the relative resistance index (RSI) read 62.79, indicating a healthy momentum without still reaching conditions of oozing.
Therefore, Solana has room to push higher before facing exhaustion signals. However, the horizontal resistance of $ 160 remains a major obstacle that the bulls must erase to confirm an escape.
A daily closure above this level would probably reinforce the bullish feeling, opening the door to the region from $ 180 to $ 200. Conversely, rejection could trigger a short -term decline to $ 142 or even $ 104, where stronger historic demand areas exist.
Source: tradingView
Analysis of the thermal liquidation card – What does the current configuration suggest?
The thermal liquidation card reveals dense liquidation clusters around the $ 147 zone to $ 150, where Solana is currently negotiated. However, above the $ 153 mark, the resistance to liquidation is changed considerably, which suggests an expansion of the price easier if the bulls break.
Therefore, a clean break could trigger a quick short coating and push Solana beyond $ 160.
In addition, the thermal card shows solid support layers under the current levels, which means that the downward risk remains amortized in the event of immediate rejection.
Source: Coringlass
Solana faces a decisive moment while the movements of the whales, the bullish feeling and the activity of the strong derivatives converge.
Therefore, if the bulls can overcome the resistance area of $ 160, Solana could ignite a powerful rally fueled by a fine air liquidity.
However, not to break higher could force a retein of the lower support regions around $ 142.
