It's shaken up, Solana's open interest in contracts surged by 370%, can the SOL price rebound?
Brothers, Solana has been quite strong recently! The futures market has exploded, with open interest skyrocketing by 370%, and funds pouring in wildly; this is gearing up for something big!
The mainnet just finished an upgrade, and the block capacity has been maxed out at 60 million computation units; this move is clearly paving the way for a future explosion. Now the price is stuck at the crucial level of $158, where both bulls and bears are fiercely contesting!
Looking upwards, the first hurdle is between $185 and $206; if we can break through, it will directly trigger a rebound mode. Looking downwards, if $158 can't hold, it might plummet to $125. Currently, the RSI has dropped to 25, indicating an oversold signal, but buyers could strike back at any time!
The data is even more stimulating, with CME's SOL futures open interest hitting $400 million in three months, and trading volume skyrocketing to $8.1 billion, firmly holding the top spot in Layer 1 blockchain transaction fees. The supply of USDC on Solana has surged to $12.2 billion, with a 54% increase in transfer volume reflecting real money flowing!
At this moment, keep a close eye on the $158 lifeline! If it can stabilize, the bulls might push the price above $185; if it breaks down, the bears will start to perform.
Now is not the time to look for direction, but to see who can step in rhythm, waiting for that decisive candlestick to appear, then lock in positions!
Rather than fighting alone, it’s better to follow Sister Rong’s lead; sometimes leveraging strength is a way to compensate for understanding. If you’re unwilling and want to turn things around, friends who recognize Sister Rong come directly; the rain you’ve endured and the pits you’ve stepped in, Sister Rong is here to hold an umbrella for you!