Solana has officially surpassed the important psychological level of $200 earlier this week, as the market enters a phase of excitement and technical signals indicate that the uptrend is not yet stopping. This breakout occurred alongside a rare Golden Cross and Open Interest (OI) reaching a record high of over $11 billion, further reinforcing expectations for strong future advances of SOL.

💰 Solana's OI Reaches Historical Peak of Over $11 Billion

According to data from Coinglass, Solana's Open Interest has surged to $11.03 billion, a significant increase from $9.52 billion just one day prior. This is a clear sign that capital is flowing strongly into SOL's derivatives market, reflecting growing confidence from investors.

At the same time, trading volume also surged from $21.06 billion to $34.62 billion, demonstrating that trading activity around Solana is heating up rapidly, creating conditions for the next breakthroughs.

📈 Golden Cross Formation – Is the Uptrend Continuing?

As of Tuesday, SOL has continued to rise by an additional 2%, bringing the total increase over the past two days to nearly 9%. Notably, this uptrend has helped SOL surpass the 50% Fibonacci level at $195, the highest price in the past 6 months. This Fibonacci threshold is calculated from the peak of $295 (January 19) to the bottom of $95 (April 7).

If the closing price holds above this area, SOL has the potential to target the 61.8% Fibonacci level at $219, marking a significant step forward in the new uptrend.

📊 RSI Shows SOL is Overbought – But Is There Cause for Concern?

The RSI index on the daily timeframe is at 85, far exceeding the typical 'overbought' threshold (70). This indicates extremely strong buying pressure, but also warns of the potential for a short-term correction.

However, if SOL cannot maintain the $195 mark, a correction could bring the price back to test the 200-day EMA at around $160 – an important technical support zone in the medium term.

📌 Summary: Preparing for a Strong Breakout?

Solana is converging many technical factors and capital flows supporting a strong price uptrend:

✅ Golden Cross confirms long-term uptrend

✅ Record OI of over $11 billion shows strong inflow of derivative capital

✅ Volume surged, reflecting significant interest from the market

✅ Surpassing the important Fibonacci level, opening up targets of $219 and beyond

With altcoin season approaching, SOL has the potential to become one of the brightest stars in the cryptocurrency market in the coming period.