Solana ($SOL) is demonstrating fluctuations in short-term bubble risk metrics, indicating potential market volatility.
Solana’s Bubble Risk Changes
According to data from Into The Cryptoverse, Solana’s bubble risk has reached a value of 1.28, indicating a growing risk of overvaluation. The chart displays that since mid-2020, the risk has increased, with recent readings showing yellow and light-green zones, suggesting a balanced yet cautious market environment. Late 2021 marked significant peaks with red and orange zones, signaling an overheated market.
Growth in the Futures Market
Solana's open interest in futures exceeded $7 billion, indicating significant growth since late 2024. This surge in futures activity aligns with rising prices for Solana, reflecting strong investor confidence. Glassnode reports that market activity is expanding, with traders positioning themselves for potential price movements.
Bullish Trend and Support Levels of Solana
Currently, the price of Solana is $218.88, showing a gain of 2.23% for the day, maintaining an uptrend since mid-April 2025. The price has recovered from a drop below $130 and is now testing resistance levels near $220. If Solana breaks this resistance, prices may rise to the $240–$260 range, while support is strong around $200.
The analysis indicates that Solana faces potential short-term risks, while the increasing open interest in futures combined with current bullish trends reflects growing investor interest.
