Solana is experiencing strong growth with prices, open interest, and DeFi TVL all skyrocketing.
Technical analysis shows strength, but overbought signals may lead to short-term price corrections before continuing to rise.
Solana [SOL] is back in the spotlight, showing strength across multiple key metrics. Over the past week, the price has surged, while open interest (OI) and DeFi TVL have also increased significantly.
These developments are attracting attention from traders and long-term investors as sentiment around the ecosystem begins to shift.
Despite increasing speculation, current data is truly noteworthy.
Futures interest indicates market confidence.
The open interest (OI) of Solana in Futures contracts has reached over 6.8 billion USD, the highest level since mid-March. This reflects a strong resurgence in speculative activity.
Source: CoinGlass
The blue curve in the chart shows a clear upward trend in OI as the price of Solana [SOL] also rises. Traders are betting on price increases rather than just hedging risks.
In the past three days, the price has surged, showing new momentum and an increase in speculative appetite.
The surge in TVL reflects Solana's emergence.
The total value locked (TVL) of Solana has also risen sharply, reflecting enthusiasm in its DeFi ecosystem.
According to DeFiLlama, TVL has surpassed 118 billion USD, increasing nearly 5% in 24 hours, marking one of the strongest days of growth in recent weeks.
Source: DeFiLlama
This rally follows a consolidation phase in April and aligns with upward momentum across the entire DeFi sector.
Momentum persists, but cooling signs are emerging.
However, SOL has slightly cooled off after a strong rise. At the moment, the token is down 2.77% and trading at 172.98 USD.
Source: CoinMarketCap
Despite some pullbacks, technical indicators suggest the upward trend remains.
RSI is above 70, signaling overbought conditions, which may trigger short-term profit-taking. However, MACD remains bullish, with the blue line above the signal line, supporting the continuation of the upward trend.
Source: TradingView
If buyers return around the 170 USD level, SOL may attempt to push the price up to 185 USD or higher. However, it's important to monitor the potential for price consolidation, as the current dip may only be a healthy pause rather than a reversal.
Source: https://tintucbitcoin.com/solana-cham-moc-185-usd-dieu-nha-dau-tu-can-biet/
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