Solana Price Prediction: Despite Price Dip, Open Interest Hits All-Time High – Big Move Coming Next
Solana simply slipped 20% previously week, making it one of many worst performers within the high 100 and the weakest within the layer-1 class. Analysts are throwing out bearish Solana worth prediction too, with some even warning of decrease targets forward.
But right here is the twist: institutional curiosity in Solana is heating up. Two big Solana treasuries rolled out back-to-back, and the chain’s stablecoin market boomed to over $12B from simply $5B earlier this yr. Even with memecoin buying and selling dropping greater than 60%, Solana nonetheless dominates DEX stream, pulling in about $4.5B each day.
In simply the previous 72 hours, near 1.5 million SOL price greater than $315M got snapped up. That sort of accumulation says quite a bit in regards to the confidence from whales and establishments. This is why regardless of every part, Solana nonetheless stands out for merchants and its open curiosity simply hit a brand new report.
Solana Futures Open Interest Hits Record $17B
On September 20, Solana hit a brand new report in open curiosity at $17.10B whereas the value of SOL was closing in on its all-time high of $250.
Right now, SOL trades round $195, but open curiosity is even larger than when it touched these highs earlier this yr. Perpetual funding charges additionally flipped optimistic, climbing to 0.0043% from -0.0065% alongside the soar in OI.
In addition, DefiLlama information flags some weak spot. Solana’s whole worth locked in DeFi protocols dropped 16% over the previous week from 13B to 10B, and each day transactions slid by 11%.
Even with that dip, Solana continues to dominate key areas. It holds 58% of all tokenized inventory quantity, boasts 4M each day lively addresses, generates $1.7B in annualized utility income, and leads DEX volumes. All this has led uncertainty round SOL worth, and the technicals proper now lean extra in favor of the bearish aspect.
Solana Price Prediction: Big Move Coming Next?
Solana not too long ago slid under its ascending channel after that sturdy rally, displaying it’s monitoring a bearish path. The $200 degree is the important thing assist proper now, and if it breaks, SOL may dip towards $185 subsequent.
The $198 zone is very essential because it overlaps mid-range assist and the channel’s decrease trendline. Holding this degree may spark a rebound towards $255, and with stronger momentum, lengthen into the $330–$350 vary.
If this assist cracks, although, the draw back opens towards $190 and even $174. RSI sits at 39, hinting at oversold and a attainable bounce, however MACD stays bearish, holding strain heavy. Bulls should reclaim $215 to maintain any larger breakout setup alive.
Snorter: One of the Best Trading Bots on Solana Doing Presale
Snorter is shortly setting itself aside as a number one bot constructed proper inside Telegram for Solana merchants. It packs the instruments severe merchants need: whale pockets mirroring, MEV safety, honeypot checks, and clear trades at only a 0.85% charge.
The presale already ripped previous $4M, and the hype retains climbing. With staking at 115% APY plus further holder rewards, Snorter is designed not only for buying and selling however for constructing long-term good points.
Among Solana bots, Snorter is already carving out a high spot, trusted by each early whales and retail piling in. If you need to catch the subsequent wave of Solana motion, Snorter is among the greatest methods to play it.
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