Solana Nears $160 Amid Whale Moves, Bullish Signs

Hier ist deine Übersetzung ins kanadische Englisch, mit Beibehaltung der Struktur und Formatierung in HTML:
The Essentials at a Glance
- Solana (SOL) is approaching resistance at 160 USD.
- Large wallets (so-called whales) are moving significant amounts of SOL – a total of 135,000 SOL over 19 days.
- The derivatives market shows rising volume but declining open interest.
- Funding rates indicate a slightly bullish sentiment.
- Technical indicators suggest potential for further price increases.
Whale Activity: Major Movements, but No Panic
Over the past 19 days, approximately 135,000 SOL worth about 15.72 million USD have been transferred to exchanges. Such movements by whales – investors holding very large amounts – can put pressure on the market. Despite these transfers, market sentiment remains positive. The current price is around 150.81 USD, reflecting a daily gain of 2.48%.
Derivatives Market: Rising Volume, Mixed Signals
Trading volume in Solana derivatives has increased by 9.32% to 11.64 billion USD. Particularly notable is the surge in options trading – up by 69.25%. At the same time, open interest has dropped by 4.85% to 5.60 billion USD. This suggests that some traders have closed existing positions rather than opening new ones. Market activity is increasing, but not everyone is aggressively betting on rising prices.
Funding Rates: Slightly Bullish Tendency
Funding rates show how much long or short positions are favoured in the futures market. The weighted funding rate is currently around -0.0006%, which is nearly neutral. On Binance, it is slightly positive at 0.006%. This indicates there is no excessive selling pressure, and buyers are not overly aggressive. The market structure remains stable.
Technical Analysis: Resistance at 160 USD in Focus
Recently, Solana has stabilized above the support level at 142.25 USD. The price is above the Parabolic SAR – a trend-following indicator – suggesting that the upward trend remains intact. The Relative Strength Index (RSI) stands at 62.79, indicating healthy momentum without being overbought. The next key resistance is at 160 USD. A daily close above this level could open the door towards 180 to 200 USD. If the breakout fails, a pullback to 142 or even 104 USD could occur.
Liquidation Heatmap: Low Resistance Above 153 USD
The liquidation heatmap shows where many leveraged positions could be liquidated. Between 147 and 150 USD, there are dense liquidation zones. However, above 153 USD, resistance becomes significantly weaker. This means that a clear breakout could trigger the closure of many short positions – further boosting the price. At the same time, there are solid support areas below the current level, limiting downside risk.
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Our Assessment
Solana is at a critical juncture. The combination of stable market sentiment, technical buy signals, and reduced resistance above 153 USD supports the possibility of a continued rally. A breakout above 160 USD could trigger a rapid move towards 180 to 200 USD. At the same time, downside risk is limited by support zones at 142 and 104 USD. Keep a close eye on the market – especially the behaviour around the 160 level will be decisive.
Sources
- Coinglass
- Santiment
- TradingView
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