The Solana funding rate indicates a bullish trend
The Solana funding rates are still green, indicating the dominance of long positions. Even with a slight decrease in price, traders continue to pay to hold long positions, anticipating a rebound.
There are no signs that short position investors are gaining an upper hand. This usually signals buyers' readiness to hold positions amid volatility.
Recently, Solana showed a crossing of the 20 EMA (exponential moving average) above the 50 EMA on the daily chart. This "golden cross" signals potential growth. However, the crossing occurred on a red candle with long wicks, indicating uncertainty in the market.
Nonetheless, this crossing supports the idea that the price trend for SOL is upward, even if the current momentum appears unstable.
