Solana Eyes Breakout Amid Bullish Pattern Signs
Key Takeaways
- Solana (SOL) is currently trading at around 144 US dollars.
- Technical analysis indicates a potential “Cup and Handle” pattern – a bullish signal.
- Whale activity suggests possible market movements.
- Derivative trading volume is rising significantly, with options markets showing high expectations for volatility.
- Liquidations are mostly affecting long positions – a sign of a short-term correction.
Whale Transfers Attract Attention
In recent days, two large Solana transfers totalling over 200 million US dollars have been recorded. These movements originated from unknown wallets and raise questions about market dynamics. Such whale activity can indicate upcoming price movements – depending on whether they are buys or sells.
Social Signals: Growing Interest in Solana
The so-called “social volume” – a measure of how often a coin is mentioned on social media – has recently increased significantly for Solana. However, “social dominance” currently sits at just 3.94%. This means Solana is gaining attention but is not yet the main focus of the broader crypto community. If this trend continues, more retail investors may start to take notice of the coin.
Derivatives Markets Show Rising Speculation
In the derivatives market, a trading volume of 9.35 billion US dollars was recorded in the past 24 hours – an increase of 12.88%. Notably, the volume of options rose by 411.70%. Open interest in options also increased by 21.19%. These figures point to growing expectations of strong price movements. Many traders are already positioning themselves for potential breakouts.
Liquidations Increase Short-Term Uncertainty
In the past 24 hours, long positions worth 3.57 million US dollars were liquidated – more than short positions. This suggests a short-term correction. Such liquidations lead to increased volatility, as they trigger automatic sell-offs. Major exchanges such as Binance and OKX are particularly affected. For traders, this means caution is warranted, but opportunities may also arise.
Technical Analysis: Consolidation with Breakout Potential
Currently, Solana’s price is moving within a range between $136.14 (support) and $155.28 (resistance). The chart structure resembles a “Cup and Handle” pattern – a classic bullish signal. The price is also within a downward channel that is narrowing. A breakout above the $155.28 level could initiate a new upward movement. Trading volume will be key: only with sufficient buying pressure can a sustainable breakout occur.
Our Assessment
Solana is currently showing clear signs of technical consolidation, combined with growing interest from institutional investors and speculators. The combination of whale activity, rising options volume, and a possible chart breakout makes SOL a compelling candidate for short-term market movements. However, the situation remains volatile – especially due to recent long liquidations. Those looking to invest should keep a close eye on the resistance level at $155.28 and the trading volume. A sustainable breakout could open the door to new price targets.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Adventure Slots – The Best Adventure-Themed Slots
Reading time: ~ 3 minutes
-
Best Cluster Pay Slots & Casinos 2025
Reading time: ~ 3 minutes
-
Versus Odds B.V. Casinos
Reading time: ~ 3 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 3 minutes
Sources
- Santiment
- Coinglass
- TradingView
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency