Key Takeaways:
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Chart history patterns and the Fibonacci retracement metric hint at a Solana price rally for $ 300.
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Solana’s $ 7.5 billion in futures open interest and negative funding rates can be a sign that a strong short squeeze is in labor.
Solana (Sol) The price tested the $ 180 level of resistance on May 11, but since the bottom of this key threshold and it appears to be unable to establish a prolonged bullish position. However, altcoin maintains a positive signal by closing above the 50-week exponential transfer of average (EMA) within three consecutive weeks. This critical level has a history of acting as a catalyst for significant price rallies.
In late 2023, Sol broke 50-week and 100-week EMA, strengthening its position above these levels before Surging 515% in March 2024. The KaMag -child index index or RSI in the weekly chart is currently at 52.60, indicating the growing pressure of the purchase.
This setup reflects the previous patterns in which Sol broke above the 50-week EMA and the rally was large. With the current technical alignment, Sol appears to be rerestming the level of $ 300 in late 2025, a major psychological and historical objection.
Using Fibonacci (FIB)-based extensions, Sol’s potential reversal may be more engaging. The fib extension, taken at January Highs $ 295 from recent swing lows near $ 95, outlines an immediate target of nearly $ 300, or an increase of 70%.
When the SOL price enters price detection, the bullish momentum can target the 1.618 extension, suggesting that the SOL can reach as high as $ 418. However, the failure to handle the 50 -week EMA can cause Sol Retest the lower support near $ 157.
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Debate with Solana Traders is Sol’s Next Breakout Catalyst
While Solana continues to trade nearly 40% below all times high, Sol Futures market activity remains stable. According to coinglass, Solana Futures Open interest (Hey) standing at $ 7.5 billion – Only $ 1 billion short on January 19, 2025, peak of $ 8.5 billion. Raised OI levels generally signal an increase in the interests of interest and suggest that traders are positioning for significant price volatility.
Funding rates Throughout the exchanges have also been negative, indicating a tilt towards short positions while Sol’s struggles to recover the key $ 180 resistance. While it often reflects the bearish sentiment, it also opens the door for a potential short squeeze.
Crypto Futures Analyst Byzantine General Taught Out of current market conditions-characterized by elevated OI, rising aggregate volume, and relatively muted cross-exchange funds-suggest that the SOL price can stabilize. He noted that this setup could cope with a sharp reversed move, with the possibility of a breakout towards a $ 300 level if the momentum formed.
However, the caution is warranted. Well -known businessman Carl Moon That -flag A potentially double top pattern in the 4 -hour chart. If the pattern performs, the businessman warned that Sol could visit $ 157 to $ 152 in a short time.
The level of $ 180 remains a critical point of inflection. A decisive move above can confirm a bullish continuity, while refusal can lead to a healthy correction in a range of $ 150- $ 160.
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This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
