The current situation around the SOL token raises interest among traders who are checking their strategies and expectations. This article examines the latest changes in prices and market trends.
SOL Price Dynamics and Trader Expectations
The SOL token reached $205 after an 18% rally in two days. This prompted speculation on whether it can continue to rise to $250. At the same time, SOL failed to hold the important $200 level but still outperformed the broader cryptocurrency market.
DEX Analysis and Market Activity
DEX activity on Solana fell for the third consecutive week to $20.6 billion, while the last 30 days saw volumes of $113.7 billion, slightly lower than Ethereum. This is not particularly encouraging for SOL holders.
Future of SOL: What the Data Says?
Data on SOL futures show a neutral sentiment among traders, with a funding rate of 12%. Investors are cautious about excessive leverage, which could help create a more sustainable rally, but this requires increased participation from retail traders and institutional inflows.
Thus, the current situation in the SOL market is ambiguous. On one hand, increasing network activity supports optimism, while on the other hand, trader caution and fluctuations may limit the token's rise.
