The cryptocurrency Solana (SOL) has drawn investor attention, as evidenced by increased open interest and rising prices.
Increase in Open Interest for SOL
According to CoinGlass data, open interest in Solana increased by 1.86% over the last 24 hours, equating to nearly 38 million SOL in the futures market. The total amount invested in SOL futures contracts reached $5.63 billion. Binance led with 8.76 million SOL, amounting to about $1.30 billion.
Technical Indicators and Solana's Future
Technical indicators suggest possible bullish momentum. The formation of a golden cross, where the short-term moving average crosses above the long-term one, indicates potential growth. This situation may create conditions for a new price rally for Solana towards the $200 mark.
Analysts' Predictions for SOL Price
Some analysts predict that if Solana reaches $200, it could show significant price growth. However, SOL must overcome key resistance levels at $155, $183, and $210. If it fails to do so, a bearish trend may emerge.
The increase in open interest and positive technical signals create conditions for Solana's price growth in the short term. Analysts' interest also highlights the potential for further rises in the future.
