Solana Futures Wake Up Ahead of FOMC Meeting
A slight increase in trading activity in the cryptocurrency market over the past day has led to a rise in the price of SOL. This modest gain reflects growing optimism among investors as they prepare for today's FOMC meeting.
SOL futures traders have expressed optimism by increasing demand for long positions. According to Coinglass, the ratio of long (bullish) to short (bearish) positions has reached a monthly high of 1.04. A value above one indicates that futures market participants prefer long positions and are betting on price increases.
On the daily chart, the relative strength index (RSI) shows an upward trend, indicating interest in Solana. At the time of publication, its value is 57.54. RSI values above 70 indicate overbought conditions, while below 30 indicate oversold conditions. The current index value suggests a strengthening bullish trend while still leaving room for further growth before the asset reaches overbought territory
